Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 24.2% during the fourth quarter, HoldingsChannel reports. The firm owned 4,780 shares of the oil and gas producer’s stock after selling 1,525 shares during the quarter. Baxter Bros Inc.’s holdings in Occidental Petroleum were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in OXY. Vanguard Group Inc. raised its position in Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after buying an additional 10,434,098 shares during the last quarter. Geode Capital Management LLC lifted its position in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the period. H&H International Investment LLC boosted its holdings in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Occidental Petroleum by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock worth $209,349,000 after purchasing an additional 229,210 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. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Piper Sandler dropped their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Mizuho lowered their price target 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. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Finally, Raymond James lowered shares of 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 research note on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $60.45.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Down 0.1 %

Shares of Occidental Petroleum stock opened at $47.91 on Tuesday. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The stock has a market cap of $44.97 billion, a P/E ratio of 19.64 and a beta of 1.51. The stock’s 50 day simple moving average is $48.51 and its 200-day simple moving average is $49.93.

Occidental Petroleum (NYSE:OXY) last issued 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 company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Analysts predict that Occidental Petroleum Co. will post 3.58 EPS 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. Shareholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend 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 payout ratio is 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.