Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,328 shares of the oil and gas producer's stock after selling 15,003 shares during the quarter. Baird Financial Group Inc.'s holdings in Occidental Petroleum were worth $12,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Certified Advisory Corp acquired a new stake in Occidental Petroleum in the fourth quarter valued at $476,000. Benchmark Investment Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $642,000. Fisher Asset Management LLC lifted its holdings in shares of Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Sarasin & Partners LLP grew its position in shares of Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock valued at $48,942,000 after purchasing an additional 50,983 shares during the last quarter. Finally, Rule One Partners LLC increased its stake in shares of Occidental Petroleum by 18.1% during the 4th quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock worth $16,083,000 after purchasing an additional 50,000 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on OXY. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Stephens cut their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price for the company. in a report on Friday, April 11th. Finally, StockNews.com downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $54.05.

Occidental Petroleum Stock Up 2.0 %

Shares of OXY stock traded up $0.81 during mid-day trading on Friday, reaching $42.25. 11,641,949 shares of the company were exchanged, compared to its average volume of 11,062,449. The company has a market capitalization of $39.71 billion, a P/E ratio of 17.32 and a beta of 0.81. The business's 50 day simple moving average is $42.96 and its 200 day simple moving average is $47.25. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter last year, the company posted $0.63 earnings per share. The company's quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.27%. Occidental Petroleum's payout ratio is 39.34%.

Occidental Petroleum Company 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.