HBK Sorce Advisory LLC Has $482,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

HBK Sorce Advisory LLC trimmed its holdings in Occidental Petroleum Co. (NYSE:OXY) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,761 shares of the oil and gas producer’s stock after selling 1,218 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Occidental Petroleum were worth $482,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Howard Capital Management Inc. raised its holdings in shares of Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 248 shares during the last quarter. Empire Financial Management Company LLC raised its holdings in Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after purchasing an additional 250 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 250 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Occidental Petroleum by 16.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,920 shares of the oil and gas producer’s stock worth $99,000 after purchasing an additional 278 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 6,854,394 shares of company stock valued at $315,101,532 over the last ninety days. 0.48% of the stock is owned by company insiders.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $46.58 on Friday. The stock has a market cap of $43.71 billion, a P/E ratio of 19.09 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average is $48.95 and its 200-day moving average is $50.36. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.18.

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

Occidental Petroleum Increases Dividend

The business also recently disclosed 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 is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s payout ratio is currently 39.34%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stephens reissued an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 19th. Mizuho dropped their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.68.

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.