Gamco Investors INC. ET AL Sells 33,043 Shares of Occidental Petroleum Co. (NYSE:OXY)

Gamco Investors INC. ET AL lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 43.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,029 shares of the oil and gas producer’s stock after selling 33,043 shares during the period. Gamco Investors INC. ET AL’s holdings in Occidental Petroleum were worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. Jump Financial LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $18,354,000. M Holdings Securities Inc. acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth about $943,000. Schwerin Boyle Capital Management Inc. boosted its stake in Occidental Petroleum by 1.1% during the 4th quarter. Schwerin Boyle Capital Management Inc. now owns 217,350 shares of the oil and gas producer’s stock valued at $10,739,000 after purchasing an additional 2,450 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $384,000. Finally, Elkhorn Partners Limited Partnership grew its holdings in Occidental Petroleum by 2.5% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 41,000 shares of the oil and gas producer’s stock worth $2,026,000 after buying an additional 1,000 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Up 3.3 %

OXY opened at $39.72 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. Occidental Petroleum Co. has a one year low of $34.79 and a one year high of $68.43. The firm has a market capitalization of $37.33 billion, a P/E ratio of 16.28 and a beta of 1.02. The company has a fifty day moving average price of $45.75 and a 200-day moving average price of $48.72.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were issued a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, for a total transaction 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 approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OXY has been the subject of several analyst reports. Citigroup lowered their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Scotiabank downgraded Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price target for the company. in a research report on Friday, April 11th. UBS Group decreased their target price on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a report on Thursday, January 23rd. Finally, Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $55.81.

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.