Victory Capital Management Inc. Has $19.42 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Victory Capital Management Inc. reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 28.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 393,075 shares of the oil and gas producer’s stock after selling 158,684 shares during the quarter. Victory Capital Management Inc.’s holdings in Occidental Petroleum were worth $19,422,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter worth approximately $50,000. Deseret Mutual Benefit Administrators boosted its holdings in 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 acquiring an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $59,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OXY. Wolfe Research upped their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Piper Sandler dropped their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Mizuho decreased their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Stephens restated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Three 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.86.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders bought 6,854,394 shares of company stock worth $315,101,532. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $46.28 on Wednesday. The company has a market cap of $43.43 billion, a PE ratio of 18.97 and a beta of 1.51. 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 52 week low of $44.70 and a 52 week high of $71.18. The business has a 50 day moving average price of $49.18 and a 200-day moving average price of $50.50.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Equities analysts anticipate 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. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.07%. 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 is presently 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.