Everett Harris & Co. CA Sells 800 Shares of Occidental Petroleum Co. (NYSE:OXY)

Everett Harris & Co. CA lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,453 shares of the oil and gas producer’s stock after selling 800 shares during the period. Everett Harris & Co. CA’s holdings in Occidental Petroleum were worth $266,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $28,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $35,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded up $0.79 during mid-day trading on Thursday, reaching $64.99. 7,105,514 shares of the company were exchanged, compared to its average volume of 8,742,230. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $67.67. 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 stock has a market capitalization of $57.61 billion, a PE ratio of 16.62 and a beta of 1.63. The company’s 50 day moving average price is $60.00 and its 200 day moving average price is $60.82.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 8th will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.35%. Occidental Petroleum’s payout ratio is currently 22.51%.

Analysts Set New Price Targets

OXY has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Morgan Stanley lifted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Mizuho lifted their price objective on shares of Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.19.

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.