Allspring Global Investments Holdings LLC Sells 5,126 Shares of Occidental Petroleum Co. (NYSE:OXY)

Allspring Global Investments Holdings LLC lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 62,950 shares of the oil and gas producer’s stock after selling 5,126 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Occidental Petroleum were worth $3,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Segment Wealth Management LLC raised its holdings in Occidental Petroleum by 5.2% during the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares during the period. Leavell Investment Management Inc. raised its holdings in Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 200 shares during the period. Empire Financial Management Company LLC raised its holdings in Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares during the period. Park Avenue Securities LLC raised its holdings in Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Occidental Petroleum by 0.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,566 shares of the oil and gas producer’s stock valued at $1,421,000 after buying an additional 257 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $52.16 on Friday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The stock’s 50-day moving average is $49.14 and its 200 day moving average is $51.45. The company has a market cap of $48.94 billion, a P/E ratio of 21.38 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

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, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.63% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Research analysts predict that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is presently 36.07%.

Analyst Ratings Changes

Several analysts recently weighed in on OXY shares. Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. UBS Group increased their target price on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James increased their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen reduced their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.90.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the 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 completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. 0.31% of the stock is 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.