Mariner LLC Has $7.85 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Mariner LLC trimmed its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 158,940 shares of the oil and gas producer’s stock after selling 13,244 shares during the quarter. Mariner LLC’s holdings in Occidental Petroleum were worth $7,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Certified Advisory Corp bought a new stake in Occidental Petroleum during the 4th quarter worth approximately $476,000. Rule One Partners LLC acquired a new position in Occidental Petroleum during the 3rd quarter worth approximately $14,199,000. Benchmark Investment Advisors LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $642,000. Fisher Asset Management LLC lifted its stake in shares of Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after buying an additional 6,461 shares in the last quarter. Finally, Sarasin & Partners LLP boosted its stake in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after purchasing an additional 50,983 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an “overweight” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $55.81.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Trading Up 3.3 %

Shares of OXY opened at $39.72 on Friday. The business’s 50-day moving average price is $45.57 and its 200-day moving average price is $48.63. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $68.43. The stock has a market cap of $37.33 billion, a PE ratio of 16.28 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping 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. On average, equities analysts forecast 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 was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.42%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 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.