Schroder Investment Management Group Sells 12,480 Shares of Occidental Petroleum Co. (NYSE:OXY)

Schroder Investment Management Group decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,410 shares of the oil and gas producer’s stock after selling 12,480 shares during the quarter. Schroder Investment Management Group’s holdings in Occidental Petroleum were worth $6,126,000 as of its most recent SEC filing.

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

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Mizuho cut their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. 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 report on Monday, January 13th. Stephens restated an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a report on Wednesday, February 19th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Piper Sandler reduced their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Three investment 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, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $59.82.

Occidental Petroleum Price Performance

NYSE OXY opened at $40.65 on Friday. The company has a market cap of $38.20 billion, a price-to-earnings ratio of 16.66 and a beta of 1.51. 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’s fifty day moving average price is $47.88 and its 200 day moving average price is $49.73. Occidental Petroleum Co. has a 1 year low of $39.60 and a 1 year high of $71.19.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share 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 business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

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

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.