Occidental Petroleum Co. (NYSE:OXY) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 76.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,040 shares of the oil and gas producer’s stock after selling 6,670 shares during the period. iA Global Asset Management Inc.’s holdings in Occidental Petroleum were worth $101,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in Occidental Petroleum by 740.1% during the fourth quarter. Teacher Retirement System of Texas now owns 37,393 shares of the oil and gas producer’s stock worth $1,848,000 after acquiring an additional 32,942 shares during the period. Generali Investments Management Co LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $1,266,000. Vinva Investment Management Ltd raised its position in Occidental Petroleum by 57.9% during the fourth quarter. Vinva Investment Management Ltd now owns 17,635 shares of the oil and gas producer’s stock worth $855,000 after acquiring an additional 6,466 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. Finally, Horizon Investments LLC raised its position in shares of Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after buying an additional 257 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 0.3 %

Shares of OXY opened at $48.11 on Friday. The stock has a market capitalization of $45.15 billion, a PE ratio of 19.72 and a beta of 1.51. 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 quick ratio of 0.76 and a current ratio of 0.95. The company’s 50-day simple moving average is $48.61 and its 200-day simple moving average is $50.01.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (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 analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share 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 issued a $0.24 dividend. This is a boost 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 2.00%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction on 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 acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OXY has been the subject of a number of recent research reports. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Truist Financial increased their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Raymond James cut shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Mizuho dropped their price objective 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. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $60.45.

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.