Scharf Investments LLC Has $121.60 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Scharf Investments LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 48.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,461,033 shares of the oil and gas producer’s stock after buying an additional 805,525 shares during the quarter. Occidental Petroleum makes up approximately 3.6% of Scharf Investments LLC’s portfolio, making the stock its 11th largest position. Scharf Investments LLC’s holdings in Occidental Petroleum were worth $121,600,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 11.5% in the second quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock valued at $5,077,000 after purchasing an additional 8,327 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Occidental Petroleum by 87.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,754 shares of the oil and gas producer’s stock valued at $142,000 after buying an additional 1,287 shares during the period. Czech National Bank lifted its stake in Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after acquiring an additional 10,456 shares in the last quarter. Regency Capital Management Inc. DE purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $392,000. Finally, Chemistry Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 0.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 35,974 shares of the oil and gas producer’s stock valued at $1,854,000 after purchasing an additional 313 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 4.6 %

Shares of NYSE:OXY opened at $46.65 on Friday. The company’s fifty day moving average is $49.54 and its 200-day moving average is $52.78. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a market capitalization of $43.78 billion, a PE ratio of 12.15 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OXY. TD Cowen lowered their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. Citigroup reduced 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. Truist Financial raised their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James boosted their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.71.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is 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.