FNY Investment Advisers LLC cut its stake in Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 79.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,100 shares of the oil and gas producer's stock after selling 4,158 shares during the quarter. FNY Investment Advisers LLC's holdings in Occidental Petroleum were worth $69,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Smith Moore & CO. increased its position in shares of Occidental Petroleum by 4.6% during the third quarter. Smith Moore & CO. now owns 3,789 shares of the oil and gas producer's stock valued at $233,000 after acquiring an additional 165 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Occidental Petroleum by 3.4% during the third quarter. Rosenberg Matthew Hamilton now owns 5,209 shares of the oil and gas producer's stock valued at $320,000 after acquiring an additional 171 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Occidental Petroleum by 1.5% during the first quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer's stock valued at $676,000 after acquiring an additional 180 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Occidental Petroleum by 1.2% during the third quarter. Apollon Wealth Management LLC now owns 16,658 shares of the oil and gas producer's stock valued at $1,024,000 after acquiring an additional 197 shares during the last quarter. Finally, CAPROCK Group Inc. increased its position in shares of Occidental Petroleum by 2.0% during the third quarter. CAPROCK Group Inc. now owns 9,936 shares of the oil and gas producer's stock valued at $612,000 after acquiring an additional 199 shares during the last quarter. 78.45% of the stock is owned by hedge funds and other institutional investors.
Get Occidental Petroleum alerts:Wall Street Analyst Weigh In
OXY has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on Occidental Petroleum from $76.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, December 19th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $67.00 to $63.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 1st. The Goldman Sachs Group raised Occidental Petroleum from a "neutral" rating to a "buy" rating and set a $81.00 target price for the company in a research report on Tuesday, February 14th. Bank of America raised Occidental Petroleum from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, January 6th. Finally, Roth Capital reissued a "neutral" rating on shares of Occidental Petroleum in a research report on Monday, February 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $76.17.
Occidental Petroleum Price Performance
NYSE:OXY opened at $58.48 on Friday. The firm has a market capitalization of $52.64 billion, a price-to-earnings ratio of 4.72, a P/E/G ratio of 0.45 and a beta of 1.77. Occidental Petroleum Co. has a 52-week low of $51.53 and a 52-week high of $77.13. The stock has a fifty day moving average of $62.53 and a 200 day moving average of $65.40. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 1.15.
Occidental Petroleum (NYSE:OXY – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The oil and gas producer reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.22). The business had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $8.21 billion. Occidental Petroleum had a net margin of 35.87% and a return on equity of 52.68%. Occidental Petroleum's quarterly revenue was up 97.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 EPS. On average, research analysts expect that Occidental Petroleum Co. will post 6.2 EPS for the current fiscal year.
Occidental Petroleum Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.72 annualized dividend and a yield of 1.23%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.13. Occidental Petroleum's payout ratio is 5.82%.
Insiders Place Their Bets
In other news, major shareholder Berkshire Hathaway Inc purchased 1,678,017 shares of the company's stock in a transaction on Monday, March 6th. The stock was purchased at an average price of $61.56 per share, with a total value of $103,298,726.52. Following the completion of the purchase, the insider now directly owns 198,392,755 shares in the company, valued at approximately $12,213,057,997.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought a total of 8,705,002 shares of company stock valued at $519,305,954 over the last 90 days. Insiders own 0.31% of the company's stock.
About Occidental Petroleum
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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
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