ArrowMark Colorado Holdings LLC Purchases 23,350 Shares of Occidental Petroleum Co. (NYSE:OXY)

ArrowMark Colorado Holdings LLC boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 74.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,650 shares of the oil and gas producer's stock after purchasing an additional 23,350 shares during the period. ArrowMark Colorado Holdings LLC's holdings in Occidental Petroleum were worth $2,700,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Altshuler Shaham Ltd bought a new position in Occidental Petroleum in the 4th quarter valued at approximately $26,000. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Atala Financial Inc bought a new stake in Occidental Petroleum during the 4th quarter worth $40,000. Finally, Millstone Evans Group LLC acquired a new position in Occidental Petroleum in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

OXY has been the topic of several research reports. The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Susquehanna cut their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Citigroup decreased their price objective on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Roth Capital set a $54.00 target price on Occidental Petroleum in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.19.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company's stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Down 4.4 %

OXY traded down $1.80 during midday trading on Monday, hitting $38.81. The company had a trading volume of 15,369,336 shares, compared to its average volume of 10,952,530. The stock's 50 day moving average price is $43.53 and its 200 day moving average price is $47.50. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $65.78. The company has a market capitalization of $36.47 billion, a price-to-earnings ratio of 15.91 and a beta of 1.02. 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 - Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is presently 39.34%.

About Occidental Petroleum

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.