Good Life Advisors LLC Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Good Life Advisors LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,031 shares of the oil and gas producer’s stock after acquiring an additional 1,023 shares during the period. Good Life Advisors LLC’s holdings in Occidental Petroleum were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Geode Capital Management LLC lifted its stake 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 worth $710,886,000 after purchasing an additional 444,850 shares during the last quarter. H&H International Investment LLC raised 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 buying an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 last quarter. Scharf Investments LLC lifted its position in Occidental Petroleum by 48.7% in 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 buying an additional 805,525 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after buying an additional 5,200 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Up 2.3 %

Shares of OXY opened at $52.16 on Friday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average price is $49.14 and its 200-day moving average price is $51.45. The firm has a market capitalization of $48.94 billion, a price-to-earnings ratio of 21.38 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.63% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.56 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed 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 an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. Occidental Petroleum’s dividend payout ratio is 36.07%.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lifted their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Stephens restated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.90.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired 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 owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by company insiders.

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.