Oakwell Private Wealth Management LLC Takes $401,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Oakwell Private Wealth Management LLC acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,124 shares of the oil and gas producer’s stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. H&H International Investment LLC lifted its stake in 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 worth $475,389,000 after acquiring an additional 7,680,598 shares in the last quarter. Scharf Investments LLC grew its position in Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares in the last quarter. Anson Funds Management LP lifted its position in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after buying an additional 745,050 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Occidental Petroleum by 3.3% during the 3rd 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 buying an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Occidental Petroleum in the third quarter worth $18,554,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $48.87 on Wednesday. The firm’s 50-day moving average is $49.31 and its 200-day moving average is $51.21. The company has a market cap of $45.86 billion, a price-to-earnings ratio of 20.03 and a beta of 1.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued 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. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 6,854,394 shares of company stock worth $315,101,532 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on OXY shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wolfe Research raised their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.55.

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.