Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,335 shares of the oil and gas producer’s stock after selling 550 shares during the period. Gulf International Bank UK Ltd’s holdings in Occidental Petroleum were worth $2,585,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. New York Life Investment Management LLC increased its position in shares of Occidental Petroleum by 1.1% in the fourth quarter. New York Life Investment Management LLC now owns 90,979 shares of the oil and gas producer’s stock worth $4,495,000 after acquiring an additional 1,002 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $27,000. Oregon Public Employees Retirement Fund increased its position in shares of Occidental Petroleum by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer’s stock worth $2,863,000 after acquiring an additional 290 shares in the last quarter. Oakwell Private Wealth Management LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $401,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of Occidental Petroleum by 20.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 181,429 shares of the oil and gas producer’s stock worth $8,964,000 after acquiring an additional 30,416 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders bought 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OXY. Piper Sandler dropped their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. UBS Group lifted their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wolfe Research lifted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, Mizuho decreased their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.55.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $48.85 on Friday. The firm has a fifty day simple moving average of $49.46 and a 200-day simple moving average of $51.11. 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 1-year low of $45.17 and a 1-year high of $71.18. The stock has a market capitalization of $45.85 billion, a price-to-earnings ratio of 20.02 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s payout ratio is presently 39.34%.

About Occidental Petroleum

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.