Segall Bryant & Hamill LLC Sells 138,569 Shares of Occidental Petroleum Co. (NYSE:OXY)

Segall Bryant & Hamill LLC lessened its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 92.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,669 shares of the oil and gas producer’s stock after selling 138,569 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Occidental Petroleum were worth $577,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Howard Capital Management Inc. boosted its stake in shares of Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after purchasing an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after acquiring an additional 248 shares during the last quarter. Empire Financial Management Company LLC grew its holdings 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 acquiring an additional 250 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after purchasing an additional 250 shares during the period. Finally, Horizon Investments LLC boosted its position in shares of Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock worth $554,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was bought 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 in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent analyst reports. Piper Sandler dropped their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Mizuho decreased their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $59.82.

Occidental Petroleum Stock Down 1.3 %

Occidental Petroleum stock opened at $48.84 on Friday. The company has a fifty day simple moving average of $48.28 and a 200 day simple moving average of $49.89. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $45.90 billion, a P/E ratio of 20.02 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share 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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.