BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Occidental Petroleum Co. (NYSE:OXY)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,373 shares of the oil and gas producer's stock after selling 7,644 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Occidental Petroleum were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Howard Capital Management Inc. boosted its position 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 buying an additional 216 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after acquiring an additional 248 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of 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 purchasing an additional 250 shares during the period. Horizon Investments LLC grew its stake in shares of Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after purchasing an additional 257 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Occidental Petroleum by 0.5% during 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 purchasing an additional 290 shares during the period. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OXY shares. Roth Capital set a $54.00 price objective on Occidental Petroleum in a report on Thursday, January 23rd. Susquehanna cut their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a report on Tuesday. Truist Financial upped their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Finally, Barclays decreased their price target on shares of Occidental Petroleum from $58.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.19.

Occidental Petroleum Stock Up 0.0 %

Shares of NYSE OXY traded up $0.01 during midday trading on Friday, hitting $40.38. The stock had a trading volume of 6,406,140 shares, compared to its average volume of 10,846,470. The business's 50 day moving average is $44.91 and its 200-day moving average is $48.21. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $68.43. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market cap of $37.95 billion, a P/E ratio of 16.55 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were given a $0.24 dividend. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.38%. Occidental Petroleum's payout ratio is 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company's stock.

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.