iA Global Asset Management Inc. Sells 6,670 Shares of Occidental Petroleum Co. (NYSE:OXY)

iA Global Asset Management Inc. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 76.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the oil and gas producer’s stock after selling 6,670 shares during the quarter. iA Global Asset Management Inc.’s holdings in Occidental Petroleum were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Howard Capital Management Inc. lifted its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 248 shares in the last quarter. Empire Financial Management Company LLC lifted its holdings in Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.3 %

NYSE:OXY opened at $48.11 on Friday. The company’s 50 day moving average is $48.61 and its two-hundred day moving average is $50.01. The company has a market cap of $45.15 billion, a PE ratio of 19.72 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.19.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for 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%. Analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a $0.24 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. Stephens restated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Piper Sandler cut their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Mizuho cut their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $60.45.

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.