Private Wealth Partners LLC Boosts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Private Wealth Partners LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 38.0% in the 4th quarter, HoldingsChannel reports. The firm owned 71,100 shares of the oil and gas producer’s stock after purchasing an additional 19,585 shares during the quarter. Private Wealth Partners LLC’s holdings in Occidental Petroleum were worth $3,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of OXY. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the third quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at $50,000. New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth about $59,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OXY. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Raymond James raised their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. UBS Group decreased their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Susquehanna dropped their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Two equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.71.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased 6,854,394 shares of company stock valued at $315,101,532 in the last three months. 0.48% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.00 on Thursday. The company has a market cap of $47.86 billion, a P/E ratio of 13.28 and a beta of 1.55. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company’s 50-day moving average price is $49.06 and its 200-day moving average price is $51.44. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 15.89% and a return on equity of 15.98%. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.34 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued 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 1.88%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

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.