Athena Investment Management Has $317,000 Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Athena Investment Management lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.2% during the fourth quarter, HoldingsChannel reports. The fund owned 6,410 shares of the oil and gas producer’s stock after selling 212 shares during the quarter. Athena Investment Management’s holdings in Occidental Petroleum were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. H&H International Investment LLC increased its holdings in Occidental Petroleum by 497.7% in the 3rd 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 buying an additional 7,680,598 shares during the period. Scharf Investments LLC increased its holdings in Occidental Petroleum by 48.7% in the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after buying an additional 805,525 shares during the period. Anson Funds Management LP increased its holdings in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after buying an additional 745,050 shares during the period. Geode Capital Management LLC increased its holdings in Occidental Petroleum by 3.3% in the 3rd 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 buying an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Occidental Petroleum in the 3rd quarter valued at $18,554,000. Institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the acquisition, the insider now directly owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $48.85 on Friday. 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 stock has a market cap of $45.85 billion, a PE ratio of 20.02 and a beta of 1.55. The stock has a 50-day moving average of $49.46 and a 200-day moving average of $51.11. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.14 billion. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Wolfe Research upped their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. TD Cowen lowered their target price 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. Finally, Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $61.55.

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.