Norman Fields Gottscho Capital Management LLC Buys 1,090 Shares of Occidental Petroleum Co. (NYSE:OXY)

Norman Fields Gottscho Capital Management LLC grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,816 shares of the oil and gas producer’s stock after purchasing an additional 1,090 shares during the quarter. Occidental Petroleum comprises approximately 1.5% of Norman Fields Gottscho Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Norman Fields Gottscho Capital Management LLC’s holdings in Occidental Petroleum were worth $4,423,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its stake in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after purchasing an additional 19,586,612 shares during the period. Himalaya Capital Management LLC bought a new stake in Occidental Petroleum in the second quarter worth approximately $92,433,000. Clean Energy Transition LLP acquired a new position in Occidental Petroleum in the first quarter valued at approximately $67,601,000. Sarasin & Partners LLP acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth approximately $63,880,000. Finally, Scharf Investments LLC bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $42,744,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Price Performance

OXY opened at $53.45 on Thursday. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The company has a market capitalization of $48.41 billion, a price-to-earnings ratio of 14.60 and a beta of 1.58. The firm’s fifty day moving average price is $55.29 and its two-hundred day moving average price is $60.72.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.57 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OXY shares. Susquehanna reduced their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Scotiabank reduced their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. UBS Group dropped their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Mizuho reduced their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.25.

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.