Gamco Investors INC. ET AL Sells 33,043 Shares of Occidental Petroleum Co. (NYSE:OXY)

Gamco Investors INC. ET AL decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 43.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,029 shares of the oil and gas producer’s stock after selling 33,043 shares during the period. Gamco Investors INC. ET AL’s holdings in Occidental Petroleum were worth $2,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum during the third quarter worth $14,199,000. Benchmark Investment Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $642,000. Fisher Asset Management LLC increased its stake in shares of Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Finally, Sarasin & Partners LLP raised its holdings in shares of Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after purchasing an additional 50,983 shares during the period. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

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

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $39.72 on Friday. The business has a 50 day moving average of $45.75 and a 200-day moving average of $48.72. 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 Co. has a 1 year low of $34.79 and a 1 year high of $68.43. The company has a market capitalization of $37.33 billion, a P/E ratio of 16.28 and a beta of 1.02.

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

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were paid a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.42%. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Analyst Upgrades and Downgrades

OXY has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Scotiabank cut shares of Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price objective for the company. in a research report on Friday, April 11th. TD Cowen lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.81.

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.