Schwartz Investment Counsel Inc. Decreases Holdings in Occidental Petroleum Corporation $OXY

Schwartz Investment Counsel Inc. lowered its position in Occidental Petroleum Corporation (NYSE:OXY) by 13.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,250 shares of the oil and gas producer’s stock after selling 16,500 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Occidental Petroleum were worth $4,369,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Activest Wealth Management increased its position in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. Binnacle Investments Inc bought a new stake in Occidental Petroleum during the third quarter valued at approximately $35,000. Garner Asset Management Corp purchased a new stake in Occidental Petroleum during the fourth quarter valued at approximately $37,000. JPL Wealth Management LLC bought a new position in Occidental Petroleum in the third quarter worth approximately $52,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $55,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 2.0%

Shares of NYSE:OXY opened at $56.23 on Wednesday. The company has a market cap of $55.93 billion, a price-to-earnings ratio of 14.16 and a beta of 0.17. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $58.20 and a 200 day moving average price of $48.47.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 4.94 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.

Analyst Ratings Changes

Several equities research analysts have recently commented on OXY shares. Piper Sandler upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $66.00 in a research note on Thursday, March 12th. Stephens boosted their price target on Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Zacks Research raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. BMO Capital Markets lifted their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Tuesday, April 7th. Finally, Truist Financial decreased their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.43.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.