Occidental Petroleum Co. (NYSE:OXY) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 12.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,414 shares of the oil and gas producer’s stock after selling 795 shares during the period. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OXY. Murphy Pohlad Asset Management LLC boosted its stake in Occidental Petroleum by 88.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 21,700 shares of the oil and gas producer’s stock worth $1,072,000 after buying an additional 10,200 shares during the period. Baader Bank Aktiengesellschaft raised its position in Occidental Petroleum by 20.0% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 12,050 shares of the oil and gas producer’s stock valued at $595,000 after purchasing an additional 2,010 shares during the period. Manning & Napier Advisors LLC lifted its stake in Occidental Petroleum by 93.3% during the fourth quarter. Manning & Napier Advisors LLC now owns 93,689 shares of the oil and gas producer’s stock worth $4,629,000 after purchasing an additional 45,214 shares in the last quarter. Swedbank AB boosted its position in shares of Occidental Petroleum by 21.9% during the fourth quarter. Swedbank AB now owns 343,689 shares of the oil and gas producer’s stock worth $16,982,000 after buying an additional 61,635 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Occidental Petroleum during the 4th quarter worth about $1,633,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 4.6 %

OXY opened at $46.65 on Monday. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The business has a 50 day moving average price of $49.43 and a two-hundred day moving average price of $52.61. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company has a market cap of $43.78 billion, a PE ratio of 12.15 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 dividend payout ratio is presently 22.92%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. Wolfe Research boosted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Susquehanna reduced their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Stephens lifted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Piper Sandler reduced their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $61.71.

Insider Buying and Selling 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 shares were acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Company 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.