Holowesko Partners Ltd. Sells 68,810 Shares of Occidental Petroleum Co. (NYSE:OXY)

Holowesko Partners Ltd. cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,190 shares of the oil and gas producer’s stock after selling 68,810 shares during the period. Occidental Petroleum accounts for approximately 2.3% of Holowesko Partners Ltd.’s portfolio, making the stock its 13th biggest holding. Holowesko Partners Ltd.’s holdings in Occidental Petroleum were worth $5,099,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OXY. Certified Advisory Corp bought a new position in Occidental Petroleum in the 4th quarter worth approximately $476,000. Rule One Partners LLC bought a new position in Occidental Petroleum during the third quarter worth $14,199,000. Fisher Asset Management LLC raised its stake in 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 valued at $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Sarasin & Partners LLP boosted its holdings in 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. Finally, Weiss Asset Management LP acquired a new stake in Occidental Petroleum in the 3rd quarter worth $2,509,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Piper Sandler reduced their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Mizuho reduced their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.82.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost 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 in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $48.84 on Friday. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.19. The stock has a market capitalization of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock’s fifty day moving average is $48.28 and its 200-day moving average is $49.87.

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

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

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.