Mutual of America Capital Management LLC Sells 1,977 Shares of Occidental Petroleum Co. (NYSE:OXY)

Mutual of America Capital Management LLC reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 80,925 shares of the oil and gas producer’s stock after selling 1,977 shares during the period. Mutual of America Capital Management LLC’s holdings in Occidental Petroleum were worth $3,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Milestones Administradora de Recursos Ltda. lifted its position in shares of Occidental Petroleum by 10.6% during the 4th quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock worth $9,577,000 after buying an additional 18,500 shares during the last quarter. Hosking Partners LLP lifted its position in shares of Occidental Petroleum by 44.8% during the 4th quarter. Hosking Partners LLP now owns 776,348 shares of the oil and gas producer’s stock worth $38,359,000 after buying an additional 240,035 shares during the last quarter. Verus Capital Partners LLC lifted its position in shares of Occidental Petroleum by 151.8% during the 4th quarter. Verus Capital Partners LLC now owns 13,027 shares of the oil and gas producer’s stock worth $644,000 after buying an additional 7,854 shares during the last quarter. Prosperitas Financial LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth $2,387,000. Finally, Hahn Capital Management LLC raised its position in Occidental Petroleum by 49.7% in the fourth quarter. Hahn Capital Management LLC now owns 116,114 shares of the oil and gas producer’s stock valued at $5,737,000 after purchasing an additional 38,555 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Jefferies Financial Group increased their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Susquehanna dropped their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. UBS Group increased their target price on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their target price for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, twelve 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, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Trading Down 2.1 %

NYSE OXY opened at $45.55 on Thursday. The business has a 50 day simple moving average of $49.34 and a 200 day simple moving average of $50.82. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.18. The stock has a market capitalization of $42.74 billion, a P/E ratio of 18.67 and a beta of 1.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping 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 analysts’ expectations of $7.14 billion. Research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.11%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have bought 6,854,394 shares of company stock worth $315,101,532. Corporate insiders own 0.31% of the company’s stock.

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.