By otakuyassine3@gmail.com 
J.W. Cole Advisors Inc. reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,232 shares of the oil and gas producer’s stock after selling 213 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Occidental Petroleum were worth $308,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Scharf Investments LLC grew its stake in Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after buying an additional 805,525 shares during the last quarter. Anson Funds Management LP increased its position in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after buying an additional 745,050 shares during the period. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after buying an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $18,554,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Stock Up 2.3 %
OXY opened at $52.16 on Friday. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The company has a market cap of $48.94 billion, a price-to-earnings ratio of 21.38 and a beta of 1.55. The business’s fifty day moving average is $49.14 and its two-hundred day moving average is $51.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.
Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.63%. Analysts anticipate that Occidental Petroleum Co. will post 3.56 EPS for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s payout ratio is currently 36.07%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on OXY. Susquehanna reduced their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on Occidental Petroleum from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.90.
Read Our Latest Stock Report on Occidental Petroleum
Insider Buying and Selling at Occidental Petroleum
In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is owned by insiders.
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.
Recommended Stories
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY – Free Report).
Receive News & Ratings for Occidental Petroleum Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Occidental Petroleum and related companies with MarketBeat.com’s FREE daily email newsletter.