Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Scharf Investments LLC

Scharf Investments LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 48.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,461,033 shares of the oil and gas producer’s stock after purchasing an additional 805,525 shares during the period. Occidental Petroleum makes up approximately 3.6% of Scharf Investments LLC’s holdings, making the stock its 11th largest holding. Scharf Investments LLC owned approximately 0.26% of Occidental Petroleum worth $121,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Occidental Petroleum by 11.5% in the 2nd quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock valued at $5,077,000 after acquiring an additional 8,327 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Occidental Petroleum by 87.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,754 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 1,287 shares during the period. Czech National Bank lifted its stake in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after purchasing an additional 10,456 shares in the last quarter. Regency Capital Management Inc. DE purchased a new stake in shares of Occidental Petroleum in the third quarter worth about $392,000. Finally, Chemistry Wealth Management LLC grew its stake in shares of Occidental Petroleum by 0.9% in the third quarter. Chemistry Wealth Management LLC now owns 35,974 shares of the oil and gas producer’s stock valued at $1,854,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on OXY shares. Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. 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 report on Thursday, December 19th. Bank of America assumed coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, Wolfe Research increased their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $46.65 on Friday. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a market cap of $43.78 billion, a PE ratio of 12.15 and a beta of 1.57. The stock has a 50 day simple moving average of $49.54 and a 200-day simple moving average of $52.78.

Occidental Petroleum Dividend Announcement

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

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.