Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,333 shares of the oil and gas producer’s stock after selling 1,490 shares during the period. Occidental Petroleum makes up 1.3% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 21st biggest position. Cutter & CO Brokerage Inc.’s holdings in Occidental Petroleum were worth $5,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of OXY. Fortitude Family Office LLC boosted its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $50,000. Deseret Mutual Benefit Administrators boosted its position in shares of Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Truist Financial raised their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. UBS Group raised their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Finally, TD Cowen decreased their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $61.55.

Occidental Petroleum Price Performance

Shares of OXY opened at $48.87 on Wednesday. The firm has a market cap of $45.86 billion, a PE ratio of 20.03 and a beta of 1.55. The firm’s 50 day moving average price is $49.31 and its 200 day moving average price is $51.21. 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 twelve month low of $45.17 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm 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%. As a group, research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared 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. 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 dividend on an annualized basis and a dividend yield of 1.96%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

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.