Robeco Institutional Asset Management B.V. Sells 53,140 Shares of Occidental Petroleum Co. (NYSE:OXY)

Robeco Institutional Asset Management B.V. decreased its position in Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 420,749 shares of the oil and gas producer’s stock after selling 53,140 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Occidental Petroleum were worth $25,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Selway Asset Management bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at approximately $37,000. Accel Wealth Management increased its position in shares of Occidental Petroleum by 1,176.5% during the 3rd quarter. Accel Wealth Management now owns 651 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 600 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $58,000. M&R Capital Management Inc. bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at approximately $61,000. Finally, Old North State Trust LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at approximately $68,000. Institutional investors own 78.45% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 1,518,001 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average cost of $56.70 per share, for a total transaction of $86,070,656.70. Following the purchase, the insider now directly owns 208,040,405 shares of the company’s stock, valued at approximately $11,795,890,963.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 8,705,002 shares of company stock worth $519,305,954 in the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OXY. Roth Capital reissued a “neutral” rating on shares of Occidental Petroleum in a research report on Monday, February 27th. The Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Tuesday, February 14th. Morgan Stanley dropped their price objective on Occidental Petroleum from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, January 24th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Wednesday, March 1st. Finally, Evercore ISI cut Occidental Petroleum from an “in-line” rating to an “underperform” rating and dropped their price objective for the company from $74.00 to $60.00 in a report on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $75.72.

Occidental Petroleum Trading Up 3.9 %

Shares of NYSE OXY opened at $59.04 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.15 and a quick ratio of 0.88. The stock has a market capitalization of $53.14 billion, a P/E ratio of 4.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.77. Occidental Petroleum Co. has a 1-year low of $51.53 and a 1-year high of $77.13. The business has a fifty day moving average price of $62.63 and a 200 day moving average price of $65.51.

Occidental Petroleum (NYSE:OXY – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The oil and gas producer reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.22). The company had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.21 billion. Occidental Petroleum had a return on equity of 52.68% and a net margin of 35.87%. The company’s revenue for the quarter was up 97.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 earnings per share. Equities research analysts expect that Occidental Petroleum Co. will post 6.2 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 10th will be paid a dividend of $0.18 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, March 9th. Occidental Petroleum’s dividend payout ratio is 5.82%.

Occidental Petroleum Profile

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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.