Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Decreased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 46.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,816 shares of the oil and gas producer’s stock after selling 113,380 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Occidental Petroleum were worth $8,632,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in OXY. Investment Research & Advisory Group Inc. lifted its stake in Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth approximately $27,000. TLW Wealth Management LLC purchased a new position in Occidental Petroleum during the fourth quarter valued at approximately $28,000. Grove Bank & Trust increased its stake in Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $34,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OXY shares. Susquehanna upped their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price target for the stock from $84.00 to $69.00 in a research note on Thursday, May 16th. Barclays initiated coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target for the company. Wells Fargo & Company lifted their target price on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Finally, HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $71.56.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 524,340 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $59.75 per share, with a total value of $31,329,315.00. Following the acquisition, the insider now owns 248,542,468 shares in the company, valued at approximately $14,850,412,463. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 4,656,747 shares of company stock worth $278,664,028 over the last quarter. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock traded down $0.05 during trading hours on Wednesday, reaching $60.97. 1,348,047 shares of the company’s stock were exchanged, compared to its average volume of 7,903,612. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The business has a fifty day moving average price of $62.18 and a 200-day moving average price of $61.88. The stock has a market capitalization of $54.06 billion, a P/E ratio of 16.71 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. Analysts predict that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.44%. Occidental Petroleum’s payout ratio is currently 24.04%.

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.