Atria Wealth Solutions Inc. Grows Stake in Occidental Petroleum Co. (NYSE:OXY)

Atria Wealth Solutions Inc. increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 94.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,259 shares of the oil and gas producer’s stock after purchasing an additional 12,251 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Occidental Petroleum were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. purchased a new stake 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 purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $68,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 3.2 %

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

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, sell-side analysts forecast 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. Stockholders of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.90%. Occidental Petroleum’s dividend payout ratio is currently 39.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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 report on Thursday. Stephens reiterated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 19th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. 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 research report on Monday, December 16th. Finally, Raymond James raised their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $61.55.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 6,854,394 shares of company stock worth $315,101,532 in the last ninety days. Insiders own 0.31% of the company’s stock.

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.