Fagan Associates Inc. lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,131 shares of the oil and gas producer's stock after selling 8,399 shares during the period. Fagan Associates Inc.'s holdings in Occidental Petroleum were worth $4,009,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in OXY. H&H International Investment LLC lifted 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 valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Scharf Investments LLC lifted 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 valued at $121,600,000 after purchasing an additional 805,525 shares during the last quarter. Anson Funds Management LP lifted 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 valued at $39,453,000 after purchasing an additional 745,050 shares during the last quarter. Geode Capital Management LLC lifted 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 valued at $710,886,000 after purchasing an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $18,554,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
Occidental Petroleum Price Performance
Shares of NYSE:OXY traded down $1.68 during trading on Friday, reaching $50.42. 13,869,302 shares of the company's stock traded hands, compared to its average volume of 10,758,816. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. 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 firm has a market cap of $47.31 billion, a PE ratio of 20.66 and a beta of 1.55. The company has a 50-day simple moving average of $49.20 and a 200-day simple moving average of $51.41.
Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating 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 firm 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 3.56 earnings per share for the current year.
Occidental Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. 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 yield of 1.90%. Occidental Petroleum's dividend payout ratio (DPR) is currently 36.07%.
Insider Activity at Occidental Petroleum
In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares of the company's stock, valued at $11,921,348,477.50. This represents a 0.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group upped their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. Piper Sandler cut their target price on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Finally, Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.90.
View Our Latest Stock Report on OXY
Occidental Petroleum Company Profile
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Free Report)
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.
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