S&CO Inc. Sells 4,700 Shares of Occidental Petroleum Co. (NYSE:OXY)

S&CO Inc. decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,805 shares of the oil and gas producer’s stock after selling 4,700 shares during the quarter. S&CO Inc.’s holdings in Occidental Petroleum were worth $3,893,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen lowered their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Piper Sandler lowered their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Susquehanna lowered their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Finally, Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $81.00 to $64.00 in a report on Monday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $60.86.

Occidental Petroleum Stock Performance

Shares of OXY opened at $47.35 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. The stock has a fifty day moving average price of $49.25 and a 200-day moving average price of $50.58. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The firm has a market cap of $44.44 billion, a PE ratio of 19.41 and a beta of 1.51.

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

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. Company insiders own 0.31% of the company’s stock.

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.