Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,333 shares of the oil and gas producer’s stock after selling 1,490 shares during the period. Occidental Petroleum accounts for 1.3% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 21st largest position. Cutter & CO Brokerage Inc.’s holdings in Occidental Petroleum were worth $5,155,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Louisiana State Employees Retirement System increased its position in Occidental Petroleum by 0.8% during the third quarter. Louisiana State Employees Retirement System now owns 37,900 shares of the oil and gas producer’s stock worth $1,953,000 after purchasing an additional 300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Occidental Petroleum by 8.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,729 shares of the oil and gas producer’s stock worth $2,027,000 after purchasing an additional 3,138 shares during the last quarter. Fortitude Family Office LLC increased its position in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Milestones Administradora de Recursos Ltda. grew its stake in Occidental Petroleum by 151.3% during the third quarter. Milestones Administradora de Recursos Ltda. now owns 175,320 shares of the oil and gas producer’s stock worth $9,036,000 after buying an additional 105,560 shares during the period. Finally, Diversify Wealth Management LLC grew its stake in Occidental Petroleum by 7.8% during the third quarter. Diversify Wealth Management LLC now owns 12,153 shares of the oil and gas producer’s stock worth $624,000 after buying an additional 884 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. Wolfe Research boosted their price objective 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. UBS Group boosted their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Raymond James boosted their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler decreased their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.55.

Occidental Petroleum Stock Down 2.0 %

Shares of NYSE:OXY opened at $48.87 on Wednesday. The stock has a market capitalization of $45.86 billion, a price-to-earnings ratio of 20.03 and a beta of 1.55. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company’s fifty day moving average is $49.31 and its two-hundred day moving average is $51.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data 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 net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average price 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 in the company, 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 document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 6,854,394 shares of company stock valued at $315,101,532 in the last quarter. Company insiders own 0.31% of the company’s stock.

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.