South Street Advisors LLC Sells 139,306 Shares of Occidental Petroleum Co. (NYSE:OXY)

South Street Advisors LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 91.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,480 shares of the oil and gas producer’s stock after selling 139,306 shares during the period. South Street Advisors LLC’s holdings in Occidental Petroleum were worth $617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators raised its position in 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 during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $59,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $47.31 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $44.40 billion, a P/E ratio of 19.39 and a beta of 1.51. The stock’s 50 day moving average is $48.88 and its 200 day moving average is $50.20. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.19.

Occidental Petroleum (NYSE:OXY) last posted its quarterly 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. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced 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 2.03%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on OXY shares. Mizuho lowered their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Roth Capital set a $54.00 price target on Occidental Petroleum in a research report on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Finally, Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.45.

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.