Rockefeller Capital Management L.P. Reduces Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Rockefeller Capital Management L.P. lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 26.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 392,773 shares of the oil and gas producer's stock after selling 139,681 shares during the period. Rockefeller Capital Management L.P.'s holdings in Occidental Petroleum were worth $19,413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Certified Advisory Corp acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $476,000. Rule One Partners LLC acquired a new position in Occidental Petroleum during the 3rd quarter worth about $14,199,000. Benchmark Investment Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth about $642,000. Fisher Asset Management LLC grew its stake in shares of Occidental Petroleum by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after buying an additional 50,983 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 3.3 %

OXY traded up $1.27 during trading on Thursday, reaching $39.72. 13,277,857 shares of the stock traded hands, compared to its average volume of 10,801,902. The stock's 50-day moving average is $45.92 and its 200 day moving average is $48.80. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $68.43. The stock has a market capitalization of $37.33 billion, a PE ratio of 16.28 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.34%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OXY. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $55.81.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.