Holowesko Partners Ltd. Sells 68,810 Shares of Occidental Petroleum Co. (NYSE:OXY)

Holowesko Partners Ltd. reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,190 shares of the oil and gas producer's stock after selling 68,810 shares during the period. Occidental Petroleum comprises about 2.3% of Holowesko Partners Ltd.'s investment portfolio, making the stock its 13th biggest position. Holowesko Partners Ltd.'s holdings in Occidental Petroleum were worth $5,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $40,000. Millstone Evans Group LLC bought a new position in Occidental Petroleum during the 4th quarter valued at about $42,000. Finally, M Holdings Securities Inc. acquired a new position in Occidental Petroleum in the fourth quarter valued at about $47,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Down 0.2 %

NYSE:OXY traded down $0.11 during mid-day trading on Wednesday, hitting $49.08. The company had a trading volume of 2,800,213 shares, compared to its average volume of 11,051,951. The firm has a market cap of $46.12 billion, a P/E ratio of 20.11 and a beta of 1.51. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.18. The business's fifty day moving average is $48.20 and its two-hundred day moving average is $49.85. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

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

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.96%. 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 (DPR) is presently 39.34%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OXY shares. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their price objective for the company from $54.00 to $45.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $59.82.

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.