Lane Generational LLC Has $4.48 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Lane Generational LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.6% during the fourth quarter, Holdings Channel reports. The fund owned 90,757 shares of the oil and gas producer’s stock after buying an additional 7,179 shares during the quarter. Occidental Petroleum comprises 4.4% of Lane Generational LLC’s investment portfolio, making the stock its 11th largest position. Lane Generational LLC’s holdings in Occidental Petroleum were worth $4,484,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 6,854,394 shares of company stock valued at $315,101,532 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 2.3 %

NYSE OXY opened at $46.28 on Wednesday. The stock has a market cap of $43.43 billion, a P/E ratio of 18.97 and a beta of 1.51. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.18. The stock has a 50 day simple moving average of $49.18 and a two-hundred day simple moving average of $50.50. 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 announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 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 analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Piper Sandler cut their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. UBS Group increased their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $81.00 to $64.00 in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.86.

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.