Rep. Robert Bresnahan, Jr. Buys Occidental Petroleum Co. (NYSE:OXY) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Occidental Petroleum Co. (NYSE:OXY). In a filing disclosed on March 27th, the Representative disclosed that they had bought between $15,001 and $50,000 in Occidental Petroleum stock on February 25th.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Occidental Petroleum Trading Down 1.3 %

OXY traded down $0.67 on Friday, hitting $48.84. The company had a trading volume of 7,892,518 shares, compared to its average volume of 10,245,959. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market cap of $45.90 billion, a P/E ratio of 20.02 and a beta of 1.51. The company’s fifty day moving average price is $48.28 and its 200 day moving average price is $49.89. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities analysts expect 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. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. Occidental Petroleum’s dividend payout ratio is currently 39.34%.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at $27,000. Bernard Wealth Management Corp. purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $32,000. Finally, Atala Financial Inc acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $40,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OXY shares. Piper Sandler lowered their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Truist Financial raised their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a report on Thursday, January 23rd. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $59.82.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.