Snider Financial Group Acquires New Shares in Occidental Petroleum Co. (NYSE:OXY)

Snider Financial Group bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 7,885 shares of the oil and gas producer’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Keybank National Association OH increased its stake in Occidental Petroleum by 5.9% during the 4th quarter. Keybank National Association OH now owns 13,745 shares of the oil and gas producer’s stock worth $679,000 after purchasing an additional 760 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Occidental Petroleum by 7.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,939 shares of the oil and gas producer’s stock valued at $540,000 after buying an additional 789 shares during the period. Alta Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $498,000. Charles Schwab Investment Management Inc. lifted its position in Occidental Petroleum by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock valued at $209,349,000 after acquiring an additional 229,210 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Occidental Petroleum in the 4th quarter worth $1,288,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

NYSE OXY opened at $46.60 on Wednesday. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The stock has a market cap of $43.73 billion, a PE ratio of 19.10 and a beta of 1.55. The firm has a 50-day moving average of $49.40 and a 200-day moving average of $50.86. 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 (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced 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 of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.06%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 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, with a total value of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased 6,854,394 shares of company stock valued at $315,101,532 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. UBS Group lifted their target price on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler decreased their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target 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.