MML Investors Services LLC Has $4.86 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

MML Investors Services LLC cut its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,443 shares of the oil and gas producer's stock after selling 38,097 shares during the quarter. MML Investors Services LLC's holdings in Occidental Petroleum were worth $4,864,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OXY. Howard Capital Management Inc. raised its stake in Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after purchasing an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock worth $58,000 after purchasing an additional 248 shares during the period. Park Avenue Securities LLC boosted its stake in Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after buying an additional 250 shares in the last quarter. Horizon Investments LLC increased its holdings in Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after buying an additional 257 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Occidental Petroleum by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock valued at $2,863,000 after buying an additional 290 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.3 %

NYSE:OXY traded down $0.11 during mid-day trading on Tuesday, hitting $40.40. The company had a trading volume of 1,851,072 shares, compared to its average volume of 10,833,518. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market cap of $37.97 billion, a P/E ratio of 16.59 and a beta of 1.02. The business's fifty day moving average is $44.53 and its two-hundred day moving average is $47.93. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $68.43.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. As a group, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's payout ratio is 39.34%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business's stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $54.00 to $45.00 in a report on Friday, January 31st. Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Piper Sandler decreased their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $54.19.

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.