Van ECK Associates Corp Lowers Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Van ECK Associates Corp reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 23.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,092 shares of the oil and gas producer’s stock after selling 4,389 shares during the period. Van ECK Associates Corp’s holdings in Occidental Petroleum were worth $696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter worth approximately $50,000. New Wave Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $59,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $68,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $50.42 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 debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a market capitalization of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. The company’s fifty day moving average price is $49.20 and its two-hundred day moving average price is $51.37.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.90%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is presently 39.34%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders purchased 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on OXY. Stephens reiterated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday. Citigroup decreased their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Wolfe Research lifted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Susquehanna decreased their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Finally, TD Cowen decreased their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.55.

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.