Quintet Private Bank Europe S.A. Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Quintet Private Bank Europe S.A. lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 69.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,750 shares of the oil and gas producer’s stock after selling 6,375 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Occidental Petroleum were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at about $50,000. Deseret Mutual Benefit Administrators lifted its holdings in shares of Occidental Petroleum by 27.1% in the fourth 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 acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 6,854,394 shares of company stock worth $315,101,532. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Truist Financial upped their target price 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. TD Cowen dropped their price objective 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, The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.55.

Occidental Petroleum Trading Down 5.1 %

Shares of NYSE OXY opened at $46.36 on Tuesday. The stock has a market cap of $43.51 billion, a price-to-earnings ratio of 19.00 and a beta of 1.55. The business has a 50 day simple moving average of $49.43 and a 200 day simple moving average of $50.94. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. 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 (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts predict 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 will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. 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 2.07%. Occidental Petroleum’s payout ratio 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.