Glenview Trust co Sells 884 Shares of Occidental Petroleum Co. (NYSE:OXY)

Glenview Trust co cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,700 shares of the oil and gas producer’s stock after selling 884 shares during the period. Glenview Trust co’s holdings in Occidental Petroleum were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Whipplewood Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in Occidental Petroleum during the fourth quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators boosted its stake in Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter valued at approximately $59,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Up 1.7 %

Shares of NYSE OXY opened at $47.31 on Tuesday. 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 capitalization of $44.40 billion, a PE ratio of 19.39 and a beta of 1.51. The stock’s fifty day simple moving average is $48.88 and its two-hundred day simple moving average is $50.20. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.19.

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, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Mizuho decreased their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Stephens reiterated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.45.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

About Occidental Petroleum

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.