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

Clare Market Investments LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 21,131 shares of the oil and gas producer’s stock, valued at approximately $1,044,000.

Several other large investors also recently bought and sold shares of OXY. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators grew its position in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Susquehanna dropped their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Citigroup dropped their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $61.50.

Occidental Petroleum Stock Up 3.4 %

Shares of NYSE OXY opened at $47.26 on Monday. The stock has a market cap of $44.35 billion, a P/E ratio of 19.37 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.18. The business’s fifty day simple moving average is $49.27 and its 200-day simple moving average is $50.64.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for 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%. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average price 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 $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. 0.31% of the stock is owned by insiders.

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.