Addison Advisors LLC Sells 1,709 Shares of Occidental Petroleum Co. (NYSE:OXY)

Addison Advisors LLC lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 63.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 990 shares of the oil and gas producer’s stock after selling 1,709 shares during the period. Addison Advisors LLC’s holdings in Occidental Petroleum were worth $49,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Certified Advisory Corp purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at about $476,000. Rule One Partners LLC purchased a new position in shares of Occidental Petroleum in the third quarter valued at about $14,199,000. Stephens Inc. AR lifted its position in shares of Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares in the last quarter. Sarasin & Partners LLP lifted its position in shares of Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after acquiring an additional 50,983 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Occidental Petroleum in the third quarter valued at about $2,509,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 2.0 %

OXY opened at $48.87 on Wednesday. The stock has a market cap of $45.86 billion, a price-to-earnings ratio of 20.03 and a beta of 1.55. The stock’s 50 day moving average price is $49.31 and its 200-day moving average price is $51.21. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The firm 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%. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current 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 $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.96%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OXY. Stephens restated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Piper Sandler decreased their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Truist Financial boosted 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. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.55.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Company 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.