Belpointe Asset Management LLC Sells 4,625 Shares of Occidental Petroleum Co. (NYSE:OXY)

Belpointe Asset Management LLC cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,748 shares of the oil and gas producer’s stock after selling 4,625 shares during the period. Belpointe Asset Management LLC’s holdings in Occidental Petroleum were worth $1,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth about $27,000. Atala Financial Inc bought a new position in shares of Occidental Petroleum in the 4th quarter worth about $40,000. Millstone Evans Group LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $42,000. Finally, M Holdings Securities Inc. acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on OXY. Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Mizuho reduced their price target 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. TD Cowen cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Scotiabank lowered Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price for the company. in a research report on Friday. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.71.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $37.90 on Tuesday. The firm has a market capitalization of $35.62 billion, a P/E ratio of 15.53 and a beta of 1.02. 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 business’s fifty day simple moving average is $46.27 and its 200 day simple moving average is $48.95. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $69.44.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion during 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%. As a group, analysts anticipate 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. Investors of record on Monday, March 10th will be paid a $0.24 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.53%. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

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.