PFG Advisors Sells 8,764 Shares of Occidental Petroleum Co. (NYSE:OXY)

PFG Advisors cut its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 50.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,609 shares of the oil and gas producer's stock after selling 8,764 shares during the quarter. PFG Advisors' holdings in Occidental Petroleum were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $27,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $50,000. Deseret Mutual Benefit Administrators raised its stake in shares of Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 248 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $68,000. 88.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares of the company's stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders acquired 6,854,394 shares of company stock worth $315,101,532. 0.48% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup decreased their price objective on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday. Piper Sandler decreased their target price 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. Wells Fargo & Company restated an "equal weight" rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Finally, Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $60.68.

Occidental Petroleum Trading Up 2.5 %

OXY stock traded up $1.13 during trading on Friday, hitting $46.58. 12,171,602 shares of the company traded hands, compared to its average volume of 11,338,112. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company has a 50-day moving average of $48.95 and a 200-day moving average of $50.32. The firm has a market capitalization of $43.71 billion, a PE ratio of 19.09 and a beta of 1.51.

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 return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm 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 $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.06%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio (DPR) is 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.