Holowesko Partners Ltd. Sells 68,810 Shares of Occidental Petroleum Co. (NYSE:OXY)

Holowesko Partners Ltd. decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 40.0% during the 4th quarter, Holdings Channel reports. The fund owned 103,190 shares of the oil and gas producer’s stock after selling 68,810 shares during the quarter. Occidental Petroleum accounts for about 2.3% of Holowesko Partners Ltd.’s investment portfolio, making the stock its 13th biggest holding. Holowesko Partners Ltd.’s holdings in Occidental Petroleum were worth $5,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $40,000. Millstone Evans Group LLC bought a new position in Occidental Petroleum in the fourth quarter valued at approximately $42,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OXY. Truist Financial boosted their price objective 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. Piper Sandler reduced their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Mizuho lowered their price objective 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.82.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY opened at $48.84 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 12-month low of $44.70 and a 12-month high of $71.19. The stock’s 50 day moving average price is $48.28 and its two-hundred day moving average price is $49.87. The firm has a market capitalization of $45.90 billion, a price-to-earnings ratio of 20.02 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last announced its quarterly 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 business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. On average, analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared 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 is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend 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.