Truist Financial Corp Has $2.37 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Truist Financial Corp cut its position in Occidental Petroleum Co. (NYSE:OXY) by 64.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,950 shares of the oil and gas producer’s stock after selling 85,507 shares during the period. Truist Financial Corp’s holdings in Occidental Petroleum were worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Leavell Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock worth $323,000 after acquiring an additional 200 shares during the period. Empire Financial Management Company LLC raised its holdings in shares of Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after acquiring an additional 250 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 250 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Occidental Petroleum by 0.9% during the third quarter. Crossmark Global Holdings Inc. now owns 27,566 shares of the oil and gas producer’s stock worth $1,421,000 after acquiring an additional 257 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 16.9% during the third quarter. Venturi Wealth Management LLC now owns 1,920 shares of the oil and gas producer’s stock worth $99,000 after acquiring an additional 278 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on OXY. Mizuho decreased their target price 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Stephens reaffirmed an “overweight” rating and issued a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Finally, Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $61.55.

Occidental Petroleum Stock Performance

NYSE OXY opened at $48.50 on Thursday. The firm has a 50-day moving average of $49.36 and a 200-day moving average of $51.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock has a market cap of $45.52 billion, a PE ratio of 19.88 and a beta of 1.55. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $7.14 billion. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. 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. This represents a $0.96 annualized dividend and a yield of 1.98%. Occidental Petroleum’s payout ratio is 39.34%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This 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 is available through this hyperlink. Insiders acquired 6,854,394 shares of company stock worth $315,101,532 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

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.