BTG Pactual Asset Management US LLC Decreases Position in Occidental Petroleum Co. (NYSE:OXY)

BTG Pactual Asset Management US LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,609 shares of the oil and gas producer’s stock after selling 695 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in Occidental Petroleum were worth $1,295,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sagespring Wealth Partners LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $434,000. Townsquare Capital LLC grew its holdings in Occidental Petroleum by 3.5% during the 4th quarter. Townsquare Capital LLC now owns 118,951 shares of the oil and gas producer’s stock valued at $5,877,000 after purchasing an additional 4,016 shares in the last quarter. Philadelphia Trust Co. increased its stake in Occidental Petroleum by 16.5% during the 4th quarter. Philadelphia Trust Co. now owns 6,190 shares of the oil and gas producer’s stock worth $306,000 after buying an additional 875 shares during the period. Quinn Opportunity Partners LLC lifted its holdings in Occidental Petroleum by 3.6% in the 4th quarter. Quinn Opportunity Partners LLC now owns 145,410 shares of the oil and gas producer’s stock worth $7,185,000 after buying an additional 5,000 shares in the last quarter. Finally, Argent Trust Co boosted its position in Occidental Petroleum by 12.9% in the 4th quarter. Argent Trust Co now owns 7,929 shares of the oil and gas producer’s stock valued at $392,000 after buying an additional 907 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Stock Performance

OXY stock opened at $37.68 on Friday. The stock’s fifty day moving average is $46.46 and its two-hundred day moving average is $49.05. The stock has a market capitalization of $35.41 billion, a price-to-earnings ratio of 15.44 and a beta of 1.02. 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 Co. has a 1 year low of $34.79 and a 1 year high of $71.19.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial boosted 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. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Stephens reissued an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Citigroup cut their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.71.

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.