D L Carlson Investment Group Inc. Sells 2,754 Shares of Occidental Petroleum Co. (NYSE:OXY)

D L Carlson Investment Group Inc. reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,567 shares of the oil and gas producer’s stock after selling 2,754 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Occidental Petroleum were worth $1,214,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Glenmede Trust Co. NA increased its holdings in Occidental Petroleum by 14.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 66,570 shares of the oil and gas producer’s stock worth $3,431,000 after purchasing an additional 8,563 shares during the period. Public Sector Pension Investment Board boosted its stake in Occidental Petroleum by 1.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 117,389 shares of the oil and gas producer’s stock worth $6,050,000 after purchasing an additional 1,672 shares in the last quarter. Vinva Investment Management Ltd purchased a new stake in shares of Occidental Petroleum during the third quarter valued at $570,000. Rockefeller Capital Management L.P. increased its holdings in shares of Occidental Petroleum by 57.3% in the third quarter. Rockefeller Capital Management L.P. now owns 532,454 shares of the oil and gas producer’s stock valued at $27,448,000 after purchasing an additional 193,876 shares during the period. Finally, Atom Investors LP acquired a new position in Occidental Petroleum in the 3rd quarter worth approximately $376,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Price Performance

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

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Equities analysts expect 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. Investors of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Analyst Upgrades and Downgrades

Several research firms recently commented on OXY. JPMorgan Chase & Co. dropped their target price on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial upped their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Roth Capital set a $54.00 target price on Occidental Petroleum in a research report on Thursday, January 23rd. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, UBS Group raised their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.82.

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.