Lake Street Advisors Group LLC Lowers Stake in Occidental Petroleum Co. (NYSE:OXY)

Lake Street Advisors Group LLC reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 14.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,240 shares of the oil and gas producer’s stock after selling 706 shares during the period. Lake Street Advisors Group LLC’s holdings in Occidental Petroleum were worth $210,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Illinois Municipal Retirement Fund grew its position in Occidental Petroleum by 20.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 181,429 shares of the oil and gas producer’s stock worth $8,964,000 after purchasing an additional 30,416 shares during the last quarter. Weinberger Asset Management Inc grew its position in Occidental Petroleum by 7.6% during the 4th quarter. Weinberger Asset Management Inc now owns 4,902 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 348 shares during the last quarter. Pring Turner Capital Group Inc. grew its position in Occidental Petroleum by 5.7% during the 4th quarter. Pring Turner Capital Group Inc. now owns 73,354 shares of the oil and gas producer’s stock worth $3,624,000 after purchasing an additional 3,935 shares during the last quarter. Skylands Capital LLC lifted its stake in shares of Occidental Petroleum by 23.0% in the 4th quarter. Skylands Capital LLC now owns 145,084 shares of the oil and gas producer’s stock worth $7,169,000 after acquiring an additional 27,175 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth $1,054,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the subject of several recent analyst reports. Raymond James raised their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. TD Cowen reduced their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Truist Financial raised their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.55.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Performance

Shares of OXY opened at $48.85 on Friday. 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 stock has a market cap of $45.85 billion, a P/E ratio of 20.02 and a beta of 1.55. The company has a 50-day moving average of $49.46 and a two-hundred day moving average of $51.11. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results 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 company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. Occidental Petroleum’s 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.