First National Trust Co Sells 3,605 Shares of Occidental Petroleum Co. (NYSE:OXY)

First National Trust Co lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 41.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,038 shares of the oil and gas producer’s stock after selling 3,605 shares during the period. First National Trust Co’s holdings in Occidental Petroleum were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Carret Asset Management LLC raised its stake in Occidental Petroleum by 75.1% during the 4th quarter. Carret Asset Management LLC now owns 15,028 shares of the oil and gas producer’s stock worth $743,000 after acquiring an additional 6,447 shares during the period. Atala Financial Inc bought a new stake in Occidental Petroleum during the 4th quarter worth approximately $40,000. Rakuten Securities Inc. raised its stake in Occidental Petroleum by 98.1% during the 4th quarter. Rakuten Securities Inc. now owns 10,680 shares of the oil and gas producer’s stock worth $528,000 after acquiring an additional 5,290 shares during the period. Sequoia Financial Advisors LLC raised its stake in Occidental Petroleum by 15.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 27,976 shares of the oil and gas producer’s stock worth $1,382,000 after acquiring an additional 3,693 shares during the period. Finally, Lane Generational LLC grew its holdings in Occidental Petroleum by 8.6% during the 4th quarter. Lane Generational LLC now owns 90,757 shares of the oil and gas producer’s stock valued at $4,484,000 after buying an additional 7,179 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $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 the SEC website. Insiders have purchased 6,854,394 shares of company stock worth $315,101,532 over the last quarter. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OXY shares. JPMorgan Chase & Co. cut their price objective on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a report on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 19th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the company from $54.00 to $45.00 in a report on Friday, January 31st. Finally, StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.68.

Occidental Petroleum Stock Performance

OXY stock opened at $46.58 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The business has a 50-day moving average price of $48.95 and a 200 day moving average price of $50.32. The company has a market capitalization of $43.71 billion, a P/E ratio of 19.09 and a beta of 1.51. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced 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 represents a $0.96 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

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.