Qtron Investments LLC Reduces Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Qtron Investments LLC trimmed its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 72.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,059 shares of the oil and gas producer's stock after selling 10,534 shares during the period. Qtron Investments LLC's holdings in Occidental Petroleum were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OXY. Philadelphia Trust Co. lifted its position in Occidental Petroleum by 16.5% during the 4th quarter. Philadelphia Trust Co. now owns 6,190 shares of the oil and gas producer's stock valued at $306,000 after acquiring an additional 875 shares during the period. Quinn Opportunity Partners LLC boosted its position in shares of Occidental Petroleum by 3.6% in the 4th quarter. Quinn Opportunity Partners LLC now owns 145,410 shares of the oil and gas producer's stock worth $7,185,000 after purchasing an additional 5,000 shares in the last quarter. Argent Trust Co increased its position in Occidental Petroleum by 12.9% during the 4th quarter. Argent Trust Co now owns 7,929 shares of the oil and gas producer's stock valued at $392,000 after buying an additional 907 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Occidental Petroleum by 2.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 299,422 shares of the oil and gas producer's stock worth $14,794,000 after acquiring an additional 7,970 shares in the last quarter. Finally, Muhlenkamp & Co. Inc. grew its stake in shares of Occidental Petroleum by 0.3% in the fourth quarter. Muhlenkamp & Co. Inc. now owns 237,967 shares of the oil and gas producer's stock worth $11,758,000 after acquiring an additional 665 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

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Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.13 during trading on Tuesday, hitting $37.77. The company had a trading volume of 9,330,283 shares, compared to its average volume of 10,790,051. The stock has a 50 day simple moving average of $46.27 and a 200 day simple moving average of $48.95. The firm has a market capitalization of $35.50 billion, a P/E ratio of 15.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $69.44.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.54%. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price target for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Citigroup cut their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Mizuho lowered their price objective on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $56.10.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was bought 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 owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company's stock.

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.