Eads & Heald Wealth Management Cuts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Eads & Heald Wealth Management cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 21.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,805 shares of the oil and gas producer’s stock after selling 1,070 shares during the quarter. Eads & Heald Wealth Management’s holdings in Occidental Petroleum were worth $227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Emfo LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $358,000. Bourgeon Capital Management LLC boosted its stake in Occidental Petroleum by 33.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 3,025 shares of the oil and gas producer’s stock valued at $181,000 after acquiring an additional 750 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Occidental Petroleum by 6.2% in the fourth quarter. Mackenzie Financial Corp now owns 33,615 shares of the oil and gas producer’s stock valued at $2,007,000 after acquiring an additional 1,964 shares during the last quarter. Bison Wealth LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $352,000. Finally, Cullen Investment Group LTD. purchased a new position in Occidental Petroleum in the fourth quarter valued at about $1,006,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 3.6 %

NYSE OXY traded down $2.43 during trading on Tuesday, hitting $65.91. The company had a trading volume of 3,872,975 shares, compared to its average volume of 8,718,102. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a market cap of $58.43 billion, a price-to-earnings ratio of 17.48 and a beta of 1.64. The company’s fifty day moving average is $62.70 and its 200-day moving average is $61.05.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. Occidental Petroleum’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business earned $1.61 EPS. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.84 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were paid a dividend of $0.22 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Analyst Upgrades and Downgrades

OXY has been the topic of several research reports. Stephens reissued an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Truist Financial upped their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Barclays began coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

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.