Mitchell Capital Management Co. Has $4.11 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Mitchell Capital Management Co. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 21.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 83,232 shares of the oil and gas producer’s stock after selling 23,331 shares during the period. Mitchell Capital Management Co.’s holdings in Occidental Petroleum were worth $4,112,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OXY. H&H International Investment LLC grew its position in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after buying an additional 7,680,598 shares during the period. Scharf Investments LLC grew its position in shares of Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after buying an additional 805,525 shares during the period. Anson Funds Management LP grew its position in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after buying an additional 745,050 shares during the period. Geode Capital Management LLC grew its position in Occidental Petroleum by 3.3% in the 3rd 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. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Occidental Petroleum in the 3rd quarter valued at $18,554,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were bought 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 directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have purchased 6,854,394 shares of company stock valued at $315,101,532. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $48.85 on Friday. The firm has a market cap of $45.85 billion, a price-to-earnings ratio of 20.02 and a beta of 1.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The firm’s 50-day simple moving average is $49.46 and its two-hundred day simple moving average is $51.06.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.97%. Occidental Petroleum’s payout ratio is currently 39.34%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Wolfe Research lifted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.55.

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.