Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,612 shares of the oil and gas producer's stock after selling 8,093 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Occidental Petroleum were worth $5,070,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OXY. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in Occidental Petroleum in the 4th quarter valued at about $40,000. Finally, Millstone Evans Group LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth about $42,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Stephens lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Three equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $54.19.

Occidental Petroleum Trading Up 0.0 %

NYSE:OXY opened at $40.38 on Monday. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week 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 has a fifty day simple moving average of $44.74 and a 200-day simple moving average of $48.03. The company has a market capitalization of $37.95 billion, a PE ratio of 16.55 and a beta of 1.02.

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

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost 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 39.34%.

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.

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