Cantor Fitzgerald L. P. Buys New Shares in Occidental Petroleum Co. (NYSE:OXY)

Cantor Fitzgerald L. P. purchased a new position in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,264 shares of the oil and gas producer's stock, valued at approximately $1,446,000.

A number of other large investors have also made changes to their positions in OXY. Berkshire Hathaway Inc raised its holdings in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after buying an additional 8,896,890 shares during the last quarter. Vanguard Group Inc. raised its stake in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after acquiring an additional 10,434,098 shares during the last quarter. Geode Capital Management LLC lifted its position in Occidental Petroleum by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock worth $701,816,000 after acquiring an additional 398,467 shares during the period. Northern Trust Corp grew its stake in Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after purchasing an additional 491,797 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Occidental Petroleum by 25.2% in the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price target for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Truist Financial increased their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Piper Sandler cut their price target on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and an average price target of $54.19.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company's stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by insiders.

Occidental Petroleum Stock Up 1.4 %

Occidental Petroleum stock traded up $0.56 during midday trading on Tuesday, hitting $39.37. 9,308,421 shares of the stock were exchanged, compared to its average volume of 10,956,335. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a 50 day moving average price of $43.34 and a two-hundred day moving average price of $47.45. The firm has a market cap of $37.00 billion, a P/E ratio of 16.14 and a beta of 0.81. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $65.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted 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 firm had revenue of $6.84 billion for 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, sell-side analysts predict 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. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.44%. Occidental Petroleum's dividend payout ratio is currently 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.