Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC trimmed its stake in Occidental Petroleum Co. (NYSE:OXY) by 66.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,704 shares of the oil and gas producer’s stock after selling 11,161 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Occidental Petroleum were worth $282,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum in the third quarter valued at $32,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum in the third quarter valued at $50,000. New Wave Wealth Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at $59,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Occidental Petroleum in the fourth quarter valued at $68,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Citigroup dropped their target price 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. UBS Group upped their target price on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Roth Capital set a $54.00 price target on Occidental Petroleum in a research report on Thursday, January 23rd. Finally, Stephens reissued an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.55.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $50.42 on Monday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The business has a 50-day moving average of $49.20 and a 200-day moving average of $51.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market capitalization of $47.31 billion, a price-to-earnings ratio of 20.66 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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 anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.90%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is currently 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.