Occidental Petroleum Co. (NYSE:OXY) Shares Sold by TCW Group Inc.

TCW Group Inc. lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,717 shares of the oil and gas producer’s stock after selling 23,648 shares during the period. TCW Group Inc.’s holdings in Occidental Petroleum were worth $3,840,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in shares of Occidental Petroleum by 0.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 37,900 shares of the oil and gas producer’s stock valued at $1,953,000 after purchasing an additional 300 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Occidental Petroleum by 8.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,729 shares of the oil and gas producer’s stock valued at $2,027,000 after buying an additional 3,138 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of Occidental Petroleum by 13.7% in the third quarter. PFG Investments LLC now owns 20,163 shares of the oil and gas producer’s stock worth $1,039,000 after buying an additional 2,436 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Occidental Petroleum by 138.4% in the third quarter. Clear Harbor Asset Management LLC now owns 41,030 shares of the oil and gas producer’s stock worth $2,115,000 after acquiring an additional 23,816 shares in the last quarter. Finally, Carret Asset Management LLC raised its holdings in shares of Occidental Petroleum by 52.0% during the third quarter. Carret Asset Management LLC now owns 8,581 shares of the oil and gas producer’s stock valued at $442,000 after acquiring an additional 2,935 shares during the period. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OXY. Susquehanna lowered their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. TD Cowen decreased their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Citigroup decreased their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $61.55.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $50.42 on Monday. The stock has a market capitalization of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. The business has a 50-day moving average of $49.20 and a two-hundred day moving average of $51.34. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

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, topping 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 during the quarter, compared to analyst estimates of $7.14 billion. On average, equities research 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. Investors of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.90%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 6,854,394 shares of company stock worth $315,101,532 in the last quarter. 0.31% of the stock is currently owned by company insiders.

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.