Meridian Wealth Management LLC Cuts Stake in Occidental Petroleum Co. (NYSE:OXY)

Meridian Wealth Management LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 49.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,222 shares of the oil and gas producer's stock after selling 15,906 shares during the period. Meridian Wealth Management LLC's holdings in Occidental Petroleum were worth $969,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Occidental Petroleum during the 3rd quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth $28,000. Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth $34,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Up 0.9 %

Shares of OXY traded up $0.55 during trading hours on Friday, hitting $63.41. 6,602,590 shares of the stock were exchanged, compared to its average volume of 6,467,806. The firm has a market capitalization of $56.22 billion, a P/E ratio of 17.33 and a beta of 1.64. 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 Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The business has a 50-day moving average of $65.40 and a 200-day moving average of $61.40.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the business posted $1.09 EPS. The business's revenue was down 17.2% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 24.04%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OXY shares. StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Friday, March 15th. Stephens reaffirmed an "overweight" rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. HSBC assumed coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a "hold" rating and a $65.00 price objective on the stock. Barclays assumed coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an "equal weight" rating and a $73.00 price objective on the stock. Finally, Truist Financial lowered Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their price objective for the company from $84.00 to $69.00 in a research note on Thursday. Ten research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $71.00.

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.