Concurrent Investment Advisors LLC Reduces Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Concurrent Investment Advisors LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,388 shares of the oil and gas producer’s stock after selling 755 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Occidental Petroleum were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in OXY. Private Wealth Partners LLC lifted its holdings in Occidental Petroleum by 38.0% in the 4th quarter. Private Wealth Partners LLC now owns 71,100 shares of the oil and gas producer’s stock worth $3,513,000 after purchasing an additional 19,585 shares in the last quarter. Good Life Advisors LLC increased its holdings in shares of Occidental Petroleum by 12.8% in the 4th quarter. Good Life Advisors LLC now owns 9,031 shares of the oil and gas producer’s stock worth $446,000 after buying an additional 1,023 shares during the last quarter. Keene & Associates Inc. raised its position in shares of Occidental Petroleum by 13.7% during the 4th quarter. Keene & Associates Inc. now owns 10,389 shares of the oil and gas producer’s stock valued at $513,000 after buying an additional 1,250 shares in the last quarter. New York State Common Retirement Fund increased its stake in Occidental Petroleum by 1.9% during the fourth quarter. New York State Common Retirement Fund now owns 740,970 shares of the oil and gas producer’s stock worth $36,611,000 after acquiring an additional 13,633 shares during the last quarter. Finally, Callahan Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $400,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Down 2.0 %

Shares of NYSE OXY opened at $48.87 on Wednesday. The stock has a market capitalization of $45.86 billion, a PE ratio of 20.03 and a beta of 1.55. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The stock’s fifty day simple moving average is $49.31 and its two-hundred day simple moving average is $51.21.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Piper Sandler dropped their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Citigroup cut their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday. Finally, Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.55.

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.