Horizon Kinetics Asset Management LLC Has $388,000 Holdings in Occidental Petroleum Co. (NYSE:OXY)

Horizon Kinetics Asset Management LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,859 shares of the oil and gas producer’s stock after selling 1,467 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Occidental Petroleum were worth $388,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Occidental Petroleum by 43.2% during the third quarter. Victory Capital Management Inc. now owns 551,759 shares of the oil and gas producer’s stock valued at $28,438,000 after buying an additional 166,372 shares during the period. KBC Group NV grew its stake in Occidental Petroleum by 0.8% during the 3rd quarter. KBC Group NV now owns 52,408 shares of the oil and gas producer’s stock valued at $2,702,000 after acquiring an additional 438 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Occidental Petroleum by 2.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,639 shares of the oil and gas producer’s stock valued at $1,064,000 after purchasing an additional 410 shares during the period. CIBC Asset Management Inc lifted its position in shares of Occidental Petroleum by 8.9% in the third quarter. CIBC Asset Management Inc now owns 103,863 shares of the oil and gas producer’s stock worth $5,353,000 after purchasing an additional 8,524 shares in the last quarter. Finally, Swiss National Bank grew its position in Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after purchasing an additional 5,200 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $47.31 on Tuesday. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19. The company has a market cap of $44.40 billion, a P/E ratio of 19.39 and a beta of 1.51. The business’s 50 day moving average is $48.88 and its two-hundred day moving average is $50.20. 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 (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, equities analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OXY shares. JPMorgan Chase & Co. decreased their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Stephens restated an “overweight” rating and issued a $71.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Citigroup cut their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Finally, Piper Sandler cut their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $60.45.

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.