Capricorn Fund Managers Ltd Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Capricorn Fund Managers Ltd bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 96,807 shares of the oil and gas producer's stock, valued at approximately $4,691,000. Occidental Petroleum makes up 2.1% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 20th largest holding.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of 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 valued at $710,886,000 after buying an additional 444,850 shares in the last quarter. H&H International Investment LLC lifted its stake in 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer's stock valued at $206,560,000 after purchasing an additional 98,703 shares in the last quarter. Swiss National Bank increased its stake in shares of Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer's stock valued at $101,720,000 after purchasing an additional 5,200 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Occidental Petroleum by 9.4% during the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer's stock worth $80,220,000 after buying an additional 133,546 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 2.7 %

OXY stock traded down $1.40 during mid-day trading on Tuesday, reaching $50.57. The company's stock had a trading volume of 13,176,666 shares, compared to its average volume of 9,873,558. The business's 50 day moving average price is $49.72 and its 200 day moving average price is $53.32. The company has a market cap of $47.46 billion, a price-to-earnings ratio of 13.17 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. Scotiabank lowered their target price on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a research report on Friday, October 4th. Evercore ISI cut their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating on the stock in a research report on Monday, September 30th. Truist Financial upped their price target 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. Finally, UBS Group cut their price objective on Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.19.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

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.