Sigma Planning Corp Has $1.42 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Posted by on Apr 6th, 2023

Sigma Planning Corp raised its stake in Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,580 shares of the oil and gas producer’s stock after buying an additional 5,276 shares during the quarter. Sigma Planning Corp’s holdings in Occidental Petroleum were worth $1,422,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in Occidental Petroleum in the fourth quarter worth approximately $26,000. Selway Asset Management bought a new stake in Occidental Petroleum in the third quarter worth approximately $37,000. Accel Wealth Management grew its position in Occidental Petroleum by 1,176.5% in the third quarter. Accel Wealth Management now owns 651 shares of the oil and gas producer’s stock worth $43,000 after acquiring an additional 600 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Occidental Petroleum by 56.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 757 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 273 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in Occidental Petroleum in the first quarter worth approximately $58,000. Institutional investors and hedge funds own 78.45% of the company’s stock.

Occidental Petroleum Trading Down 0.4 %

Shares of OXY stock opened at $64.57 on Thursday. Occidental Petroleum Co. has a 52-week low of $51.53 and a 52-week high of $77.13. The stock has a market cap of $57.99 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 0.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 1.15. The firm has a fifty day moving average of $61.57 and a 200-day moving average of $64.86.

Occidental Petroleum (NYSE:OXY – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The oil and gas producer reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.22). Occidental Petroleum had a net margin of 35.87% and a return on equity of 52.68%. The business had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same quarter in the prior year, the company posted $1.48 EPS. The company’s quarterly revenue was up 97.6% compared to the same quarter last year. On average, equities research analysts forecast that Occidental Petroleum Co. will post 5.79 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 10th will be paid a $0.18 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.12%. Occidental Petroleum’s dividend payout ratio is currently 5.82%.

Analysts Set New Price Targets

OXY has been the subject of several recent research reports. Mizuho boosted their target price on shares of Occidental Petroleum from $82.00 to $83.00 in a research report on Friday, March 10th. Piper Sandler decreased their price objective on shares of Occidental Petroleum from $76.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, December 19th. Barclays upped their price objective on shares of Occidental Petroleum from $70.00 to $78.00 in a report on Friday, March 17th. The Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Tuesday, February 14th. Finally, StockNews.com began coverage on shares of Occidental Petroleum in a report on Thursday, March 16th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.61.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 1,678,017 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were purchased at an average cost of $61.56 per share, with a total value of $103,298,726.52. Following the completion of the purchase, the insider now owns 198,392,755 shares of the company’s stock, valued at $12,213,057,997.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders acquired 12,371,716 shares of company stock worth $735,557,715. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Profile

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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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