AlphaQuest LLC Has $159,000 Holdings in Occidental Petroleum Co. (NYSE:OXY)

AlphaQuest LLC decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 87.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,218 shares of the oil and gas producer’s stock after selling 23,178 shares during the quarter. AlphaQuest LLC’s holdings in Occidental Petroleum were worth $159,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Ellerson Group Inc. ADV acquired a new position in Occidental Petroleum during the fourth quarter worth about $3,434,000. Jackson Hole Capital Partners LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $322,000. Dorsey & Whitney Trust CO LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $260,000. Intellectus Partners LLC raised its stake in Occidental Petroleum by 44.6% during the fourth quarter. Intellectus Partners LLC now owns 19,910 shares of the oil and gas producer’s stock worth $988,000 after acquiring an additional 6,145 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in Occidental Petroleum during the fourth quarter worth about $747,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OXY shares. Raymond James cut Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Truist Financial boosted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Stephens restated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.45.

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 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 directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Price Performance

Shares of OXY opened at $47.31 on Tuesday. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week 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 business’s 50 day moving average price is $48.88 and its two-hundred day moving average price is $50.20. The firm has a market cap of $44.40 billion, a PE ratio of 19.39 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

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.