Occidental Petroleum Co. (NYSE:OXY) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,414 shares of the oil and gas producer’s stock after selling 795 shares during the period. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Certified Advisory Corp purchased a new stake in Occidental Petroleum in the fourth quarter valued at about $476,000. Rule One Partners LLC acquired a new stake in Occidental Petroleum in the 3rd quarter worth approximately $14,199,000. Stephens Inc. AR grew its position in Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares during the last quarter. Sarasin & Partners LLP increased its stake in Occidental Petroleum by 5.4% during 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 in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Occidental Petroleum during the third quarter worth $2,509,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $46.65 on Monday. The stock has a market capitalization of $43.78 billion, a P/E ratio of 12.15 and a beta of 1.57. The company’s fifty day moving average price is $49.43 and its 200 day moving average price is $52.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OXY shares. Stephens raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Susquehanna decreased their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Jefferies Financial Group increased their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. 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. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.71.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.

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.