Occidental Petroleum Co. (NYSE:OXY) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 76.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,040 shares of the oil and gas producer's stock after selling 6,670 shares during the period. iA Global Asset Management Inc.'s holdings in Occidental Petroleum were worth $101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc increased its stake in shares of Occidental Petroleum by 22.5% during the third quarter. Prospera Financial Services Inc now owns 9,160 shares of the oil and gas producer's stock valued at $472,000 after buying an additional 1,685 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $685,000. Commerce Bank raised its holdings in shares of Occidental Petroleum by 4.1% in the 3rd quarter. Commerce Bank now owns 30,246 shares of the oil and gas producer's stock valued at $1,559,000 after purchasing an additional 1,181 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Occidental Petroleum during the third quarter valued at approximately $874,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Occidental Petroleum by 10.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 42,508 shares of the oil and gas producer's stock valued at $2,191,000 after acquiring an additional 4,174 shares during the period. Institutional investors own 88.70% of the company's stock.

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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 completion of the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.31% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on OXY. Stephens reaffirmed an "overweight" rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. StockNews.com downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their price target on Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.45.

Occidental Petroleum Stock Performance

OXY traded up $1.13 on Tuesday, reaching $49.05. The stock had a trading volume of 11,100,228 shares, compared to its average volume of 10,005,434. The business's 50-day moving average price is $48.45 and its two-hundred day moving average price is $49.91. 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 $71.19. The company has a market cap of $46.03 billion, a P/E ratio of 20.10 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly 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 return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.96%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.34%.

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.