Ceeto Capital Group LLC Lowers Stake in Occidental Petroleum Co. (NYSE:OXY)

Ceeto Capital Group LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,250 shares of the oil and gas producer’s stock after selling 500 shares during the period. Ceeto Capital Group LLC’s holdings in Occidental Petroleum were worth $608,000 at the end of the most recent reporting period.

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

Insider Activity at Occidental Petroleum

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

Analyst Ratings Changes

OXY has been the subject of a number of research reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Raymond James lowered shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research report on Thursday, January 23rd. UBS Group lowered their target price on shares of Occidental Petroleum from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Truist Financial boosted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $56.71.

Occidental Petroleum Stock Up 3.3 %

OXY opened at $37.68 on Friday. The company has a 50 day moving average of $46.46 and a 200 day moving average of $49.05. The company has a market cap of $35.41 billion, a PE ratio of 15.44 and a beta of 1.02. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month 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.

Occidental Petroleum (NYSE:OXY) last released 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. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced 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. This represents a $0.96 annualized dividend and a dividend yield of 2.55%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

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.