Sanibel Captiva Trust Company Inc. Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Sanibel Captiva Trust Company Inc. acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,262 shares of the oil and gas producer’s stock, valued at approximately $902,000.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after acquiring an additional 444,850 shares during the period. H&H International Investment LLC increased its holdings in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after purchasing an additional 98,703 shares during the period. 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 buying an additional 5,200 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after buying an additional 277,462 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.6 %

Shares of NYSE:OXY opened at $51.98 on Friday. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The stock has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. The business has a fifty day moving average of $49.70 and a two-hundred day moving average of $53.52. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OXY shares. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Stephens upped their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, UBS Group decreased their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $62.19.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by insiders.

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.