Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Glenview Trust co

Glenview Trust co lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,700 shares of the oil and gas producer’s stock after selling 884 shares during the quarter. Glenview Trust co’s holdings in Occidental Petroleum were worth $479,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. H&H International Investment LLC lifted its position in Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after acquiring an additional 7,680,598 shares during the period. Scharf Investments LLC lifted its position in Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after acquiring an additional 805,525 shares during the period. Anson Funds Management LP lifted its position in Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after acquiring an additional 745,050 shares during the period. Geode Capital Management LLC lifted its position in Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares during the period. Finally, Cooke & Bieler LP raised its stake in shares of Occidental Petroleum by 14.6% during the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock valued at $146,184,000 after buying an additional 377,952 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group lifted their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $81.00 to $64.00 in a research note on Monday, March 10th. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Mizuho reduced their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.45.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 1.7 %

OXY stock opened at $47.31 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.19. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 19.39 and a beta of 1.51. The business’s 50-day moving average is $48.88 and its 200 day moving average is $50.20.

Occidental Petroleum (NYSE:OXY) last issued its earnings results 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. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s payout ratio is currently 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.