Annandale Capital LLC Sells 877 Shares of Occidental Petroleum Co. (NYSE:OXY)

Annandale Capital LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,589 shares of the oil and gas producer’s stock after selling 877 shares during the period. Annandale Capital LLC’s holdings in Occidental Petroleum were worth $770,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OXY. Benjamin Edwards Inc. bought a new position in Occidental Petroleum during the 3rd quarter valued at about $206,000. Hilltop Holdings Inc. lifted its position in Occidental Petroleum by 49.4% during the third quarter. Hilltop Holdings Inc. now owns 5,591 shares of the oil and gas producer’s stock valued at $288,000 after purchasing an additional 1,848 shares during the period. Investment Management Corp of Ontario boosted its holdings in Occidental Petroleum by 50.2% in the third quarter. Investment Management Corp of Ontario now owns 22,134 shares of the oil and gas producer’s stock worth $1,141,000 after purchasing an additional 7,400 shares during the last quarter. Quantinno Capital Management LP grew its position in Occidental Petroleum by 2.6% in the 3rd quarter. Quantinno Capital Management LP now owns 33,373 shares of the oil and gas producer’s stock worth $1,720,000 after purchasing an additional 831 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in Occidental Petroleum during the 3rd quarter valued at $2,509,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 7.4 %

Shares of OXY stock opened at $40.65 on Friday. The company’s fifty day simple moving average is $47.88 and its two-hundred day simple moving average is $49.73. Occidental Petroleum Co. has a 52 week low of $39.60 and a 52 week high of $71.19. The stock has a market cap of $38.20 billion, a P/E ratio of 16.66 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its earnings results 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 return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost 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 approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup cut their price objective on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Raymond James lowered shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Finally, Stephens reiterated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Three 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.82.

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.