TCTC Holdings LLC Has $20.95 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

TCTC Holdings LLC decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,094 shares of the oil and gas producer’s stock after selling 3,813 shares during the quarter. TCTC Holdings LLC’s holdings in Occidental Petroleum were worth $20,954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after acquiring an additional 444,850 shares during the last quarter. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Occidental Petroleum by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock valued at $209,349,000 after acquiring an additional 229,210 shares during the last quarter. Cooke & Bieler LP increased its position in shares of Occidental Petroleum by 14.6% in the fourth quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock valued at $146,184,000 after acquiring an additional 377,952 shares during the last quarter. Finally, Scharf Investments LLC increased its position in shares of Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after acquiring an additional 805,525 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 6,854,394 shares of company stock worth $315,101,532. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OXY. The Goldman Sachs Group downgraded 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 report on Friday, January 31st. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Piper Sandler reduced their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Stephens reiterated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.68.

Occidental Petroleum Trading Up 2.5 %

Shares of OXY stock opened at $46.58 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market cap of $43.71 billion, a P/E ratio of 19.09 and a beta of 1.51. The stock has a 50 day simple moving average of $48.95 and a 200 day simple moving average of $50.27. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. 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.