Teamwork Financial Advisors LLC Sells 10,382 Shares of Occidental Petroleum Co. (NYSE:OXY)

Teamwork Financial Advisors LLC lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 47.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,274 shares of the oil and gas producer’s stock after selling 10,382 shares during the period. Teamwork Financial Advisors LLC’s holdings in Occidental Petroleum were worth $733,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Investment Research & Advisory Group Inc. grew its stake in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the last quarter. VisionPoint Advisory Group LLC increased its holdings in shares of Occidental Petroleum by 1.2% during the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Occidental Petroleum by 0.8% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 23,523 shares of the oil and gas producer’s stock worth $1,405,000 after purchasing an additional 185 shares during the last quarter. Strategic Advocates LLC boosted its stake in Occidental Petroleum by 1.8% in the 4th quarter. Strategic Advocates LLC now owns 10,356 shares of the oil and gas producer’s stock worth $618,000 after purchasing an additional 186 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in Occidental Petroleum by 1.2% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 16,084 shares of the oil and gas producer’s stock valued at $1,045,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $0.04 during midday trading on Thursday, hitting $62.32. The company had a trading volume of 4,119,048 shares, compared to its average volume of 7,619,871. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The company has a fifty day moving average of $62.66 and a two-hundred day moving average of $61.83. The company has a market cap of $55.26 billion, a price-to-earnings ratio of 17.03 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, equities research analysts expect that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. Occidental Petroleum’s payout ratio is currently 24.04%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the purchase, the insider now owns 255,281,524 shares in the company, valued at $15,253,071,059. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 4,656,747 shares of company stock valued at $278,664,028 over the last three months. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on OXY shares. Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. Citigroup reduced their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and lowered their price target for the company from $84.00 to $69.00 in a report on Thursday, May 16th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $68.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, June 21st. Finally, Morgan Stanley upped their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.56.

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.