Occidental Petroleum Co. (NYSE:OXY) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd cut its position in Occidental Petroleum Co. (NYSE:OXY) by 63.6% during the fourth quarter, HoldingsChannel reports. The firm owned 26,825 shares of the oil and gas producer’s stock after selling 46,817 shares during the quarter. WINTON GROUP Ltd’s holdings in Occidental Petroleum were worth $1,325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at $27,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $40,000. Millstone Evans Group LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $42,000. Finally, M Holdings Securities Inc. acquired a new position in Occidental Petroleum in the fourth quarter valued at $47,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.6 %

Shares of OXY stock opened at $49.47 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. The firm’s 50 day moving average price is $48.34 and its two-hundred day moving average price is $49.91. The stock has a market cap of $46.49 billion, a price-to-earnings ratio of 20.28 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $7.14 billion. On average, analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current 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 paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OXY shares. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Stephens reaffirmed an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Finally, Piper Sandler lowered 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. Three investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.82.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 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.