Amundi Sells 68,713 Shares of Occidental Petroleum Co. (NYSE:OXY)

Amundi cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,373,219 shares of the oil and gas producer’s stock after selling 68,713 shares during the quarter. Amundi owned 0.25% of Occidental Petroleum worth $121,485,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. H&H International Investment LLC increased its stake in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Scharf Investments LLC increased its stake in Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after acquiring an additional 805,525 shares during the last quarter. Anson Funds Management LP increased its stake in Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares during the last quarter. Geode Capital Management LLC increased its stake in Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after acquiring an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Occidental Petroleum in the third quarter valued at approximately $18,554,000. 88.70% of the stock is owned by institutional investors.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last quarter. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $47.35 on Tuesday. The firm has a market cap of $44.44 billion, a PE ratio of 19.41 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.18. The firm’s fifty day moving average is $49.25 and its 200-day moving average is $50.58.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced 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. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.03%. Occidental Petroleum’s payout ratio is presently 39.34%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Finally, UBS Group boosted their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.86.

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.