Mariner LLC Sells 13,244 Shares of Occidental Petroleum Co. (NYSE:OXY)

Mariner LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,940 shares of the oil and gas producer’s stock after selling 13,244 shares during the period. Mariner LLC’s holdings in Occidental Petroleum were worth $7,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $40,000. Millstone Evans Group LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth $42,000. Finally, M Holdings Securities Inc. bought a new position in shares of Occidental Petroleum during the fourth quarter worth $47,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 3.3 %

Occidental Petroleum stock opened at $39.72 on Friday. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $68.43. The stock has a market capitalization of $37.33 billion, a P/E ratio of 16.28 and a beta of 1.02. The stock has a 50-day simple moving average of $45.57 and a 200 day simple moving average of $48.63. 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 posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 10th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research note on Thursday, January 23rd. Stephens dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Piper Sandler dropped their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.81.

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.