Summit Trail Advisors LLC Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Summit Trail Advisors LLC decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 39.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,503 shares of the oil and gas producer’s stock after selling 2,313 shares during the quarter. Summit Trail Advisors LLC’s holdings in Occidental Petroleum were worth $210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Occidental Petroleum in the third quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in Occidental Petroleum in the third quarter worth approximately $27,000. TLW Wealth Management LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth approximately $28,000. Grove Bank & Trust boosted its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $63.69 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The company has a market cap of $56.46 billion, a PE ratio of 16.29 and a beta of 1.64. The business has a 50 day moving average of $64.98 and a 200 day moving average of $61.34. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.51%.

Analyst Ratings Changes

OXY has been the subject of several research reports. Susquehanna upped their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley increased their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Barclays initiated coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective for the company. Wells Fargo & Company increased their price objective on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, Truist Financial increased their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.00.

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.