Skylands Capital LLC Acquires 27,175 Shares of Occidental Petroleum Co. (NYSE:OXY)

Skylands Capital LLC raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,084 shares of the oil and gas producer’s stock after purchasing an additional 27,175 shares during the quarter. Skylands Capital LLC’s holdings in Occidental Petroleum were worth $7,169,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Occidental Petroleum by 3.3% during 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 last quarter. H&H International Investment LLC raised its position in shares of Occidental Petroleum by 497.7% in 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $206,560,000 after buying an additional 98,703 shares during the period. Scharf Investments LLC grew its stake in shares of Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after purchasing an additional 805,525 shares during the period. Finally, Swiss National Bank grew its stake in Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after acquiring an additional 5,200 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 3.2 %

Occidental Petroleum stock opened at $50.42 on Monday. The firm has a 50 day simple moving average of $49.20 and a 200 day simple moving average of $51.34. The firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of 20.66 and a beta of 1.55. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. On average, analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.90%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 6,854,394 shares of company stock worth $315,101,532. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OXY. Stephens reissued an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. TD Cowen cut their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday. Finally, Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.55.

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.