Clare Market Investments LLC Makes New $1.04 Million Investment in Occidental Petroleum Co. (NYSE:OXY)

Clare Market Investments LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 21,131 shares of the oil and gas producer’s stock, valued at approximately $1,044,000.

Several other hedge funds also recently made changes to their positions in OXY. H&H International Investment LLC grew its holdings in shares of Occidental Petroleum by 497.7% during the third 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 purchasing an additional 7,680,598 shares during the last quarter. Scharf Investments LLC grew its holdings in shares of 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 worth $121,600,000 after purchasing an additional 805,525 shares during the last quarter. Anson Funds Management LP grew its holdings in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $18,554,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $47.26 on Monday. The firm has a 50 day moving average of $49.27 and a 200-day moving average of $50.64. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.18. 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 company has a market cap of $44.35 billion, a price-to-earnings ratio of 19.37 and a beta of 1.51.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders purchased 6,854,394 shares of company stock worth $315,101,532. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Jefferies Financial Group increased their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Stephens reiterated an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.50.

Occidental Petroleum 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.