Corient Private Wealth LLC Sells 112,334 Shares of Occidental Petroleum Co. (NYSE:OXY)

Corient Private Wealth LLC decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 37.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 185,908 shares of the oil and gas producer's stock after selling 112,334 shares during the period. Corient Private Wealth LLC's holdings in Occidental Petroleum were worth $9,186,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of OXY. H&H International Investment LLC boosted its holdings 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 worth $475,389,000 after buying an additional 7,680,598 shares during the period. Scharf Investments LLC boosted its holdings 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 worth $121,600,000 after buying an additional 805,525 shares during the period. Anson Funds Management LP boosted its holdings 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 worth $39,453,000 after buying an additional 745,050 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Occidental Petroleum by 3.3% during 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 buying an additional 444,850 shares during the period. Finally, Cooke & Bieler LP raised its stake 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. Institutional investors own 88.70% of the company's stock.

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Occidental Petroleum Trading Up 0.3 %

OXY traded up $0.15 during trading on Friday, reaching $48.11. 23,294,817 shares of the company's stock were exchanged, compared to its average volume of 9,989,599. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $45.15 billion, a PE ratio of 19.72 and a beta of 1.51. The firm has a fifty day moving average price of $48.61 and a two-hundred day moving average price of $50.01.

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 analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, March 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

OXY has been the subject of several analyst reports. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Truist Financial boosted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Finally, Stephens restated an "overweight" rating and issued a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $60.45.

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.