Occidental Petroleum Co. (NYSE:OXY) Stock Position Decreased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,654 shares of the oil and gas producer’s stock after selling 2,923 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Occidental Petroleum were worth $7,098,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Certified Advisory Corp acquired a new position in Occidental Petroleum during the 4th quarter valued at about $476,000. Rule One Partners LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $14,199,000. Fisher Asset Management LLC lifted its stake in shares of Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after acquiring an additional 6,461 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after acquiring an additional 50,983 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $2,509,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Mizuho dropped their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. Piper Sandler cut their price target 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. Citigroup reduced their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $60.45.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction dated 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 acquisition, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $48.11 on Friday. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19. The company’s fifty day moving average is $48.61 and its 200-day moving average is $50.01. 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 firm has a market cap of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Equities analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business 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 $0.24 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.00%. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.