Concurrent Investment Advisors LLC Sells 755 Shares of Occidental Petroleum Co. (NYSE:OXY)

Concurrent Investment Advisors LLC cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of OXY. Leavell Investment Management Inc. boosted its position in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock worth $323,000 after purchasing an additional 200 shares in the last quarter. Empire Financial Management Company LLC raised its stake 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 buying an additional 250 shares during the period. Park Avenue Securities LLC boosted its holdings in Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 250 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Occidental Petroleum by 0.9% during the third quarter. Crossmark Global Holdings Inc. now owns 27,566 shares of the oil and gas producer’s stock valued at $1,421,000 after acquiring an additional 257 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Occidental Petroleum by 16.9% during the third 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 period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 6,854,394 shares of company stock worth $315,101,532. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OXY shares. Stephens reissued an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Citigroup lowered their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.55.

Occidental Petroleum Price Performance

OXY opened at $48.87 on Wednesday. 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 52-week low of $45.17 and a 52-week high of $71.18. 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 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 issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, equities research analysts predict 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. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. 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. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s 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.