AGF Management Ltd. cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,420 shares of the oil and gas producer's stock after selling 8,743 shares during the quarter. AGF Management Ltd.'s holdings in Occidental Petroleum were worth $2,541,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in OXY. H&H International Investment LLC grew its stake in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the period. Scharf Investments LLC grew its stake in shares of 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 valued at $121,600,000 after acquiring an additional 805,525 shares during the period. Anson Funds Management LP grew its stake in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock valued at $39,453,000 after acquiring an additional 745,050 shares during the period. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock worth $710,886,000 after purchasing an additional 444,850 shares in the last quarter. Finally, Cooke & Bieler LP lifted its holdings in Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer's stock worth $146,184,000 after purchasing an additional 377,952 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Occidental Petroleum
In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 6,854,394 shares of company stock valued at $315,101,532 in the last quarter. 0.48% of the stock is owned by insiders.
Occidental Petroleum Trading Up 2.5 %
Shares of NYSE OXY traded up $1.13 during trading hours on Friday, hitting $46.58. 12,171,602 shares of the company traded hands, compared to its average volume of 11,338,112. The company's 50 day moving average price is $48.95 and its 200 day moving average price is $50.36. The stock has a market capitalization of $43.71 billion, a price-to-earnings ratio of 19.09 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 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 Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is 39.34%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Mizuho lowered their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday. StockNews.com cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Piper Sandler lowered their price target on Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Finally, Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $81.00 to $64.00 in a report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.68.
Check Out Our Latest Analysis on OXY
Occidental Petroleum Profile
(
Free Report)
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.
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