Orion Portfolio Solutions LLC Has $1.40 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Orion Portfolio Solutions LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,358 shares of the oil and gas producer's stock after selling 14,378 shares during the period. Orion Portfolio Solutions LLC's holdings in Occidental Petroleum were worth $1,401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of OXY. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $40,000. Millstone Evans Group LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter worth $42,000. Finally, M Holdings Securities Inc. purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth $47,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on OXY shares. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Citigroup dropped their price objective on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. The Goldman Sachs Group cut shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and reduced their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Mizuho dropped their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. Finally, UBS Group reduced their price objective on shares of Occidental Petroleum from $52.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $59.27.

Occidental Petroleum Stock Performance

NYSE OXY traded down $1.84 during midday trading on Monday, hitting $38.70. The company had a trading volume of 26,777,365 shares, compared to its average volume of 10,479,661. The firm has a fifty day simple moving average of $47.66 and a two-hundred day simple moving average of $49.60. Occidental Petroleum Co. has a fifty-two week low of $37.67 and a fifty-two week high of $71.19. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market cap of $36.37 billion, a price-to-earnings ratio of 15.86 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.