Guggenheim Capital LLC Sells 61,587 Shares of Occidental Petroleum Co. (NYSE:OXY)

Guggenheim Capital LLC lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,524 shares of the oil and gas producer's stock after selling 61,587 shares during the quarter. Guggenheim Capital LLC's holdings in Occidental Petroleum were worth $5,659,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in OXY. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new position in Occidental Petroleum in the 4th quarter valued at $40,000. Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $42,000. Finally, M Holdings Securities Inc. purchased a new stake in Occidental Petroleum during the 4th quarter valued at about $47,000. 88.70% of the stock is currently owned by institutional investors.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now directly 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Price Performance

Occidental Petroleum stock traded up $1.04 during midday trading on Tuesday, hitting $40.06. The company's stock had a trading volume of 1,715,261 shares, compared to its average volume of 10,791,266. The company has a market capitalization of $37.65 billion, a PE ratio of 16.42 and a beta of 1.02. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $68.43. 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 stock's 50-day moving average price is $45.39 and its 200-day moving average price is $48.43.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS 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 firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.40%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum's payout ratio is presently 39.34%.

Analysts Set New Price Targets

OXY has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target 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 reduced their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.33.

Occidental Petroleum Company 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.