Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,492 shares of the oil and gas producer’s stock after selling 515 shares during the period. Alpha Cubed Investments LLC’s holdings in Occidental Petroleum were worth $268,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $28,000. Grove Bank & Trust grew its holdings in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter worth $34,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OXY has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. HSBC started coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. Susquehanna lifted their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho boosted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Trading Down 2.6 %

Shares of OXY stock opened at $64.45 on Thursday. The company has a market capitalization of $57.13 billion, a price-to-earnings ratio of 16.48 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $64.63 and a 200 day moving average price of $61.40. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. Research analysts forecast that Occidental Petroleum Co. will post 3.85 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

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.