Good Life Advisors LLC Buys 1,023 Shares of Occidental Petroleum Co. (NYSE:OXY)

Good Life Advisors LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,031 shares of the oil and gas producer’s stock after buying an additional 1,023 shares during the period. Good Life Advisors LLC’s holdings in Occidental Petroleum were worth $446,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Fortitude Family Office LLC boosted its holdings in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the 3rd quarter worth about $50,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at about $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $68,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OXY. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Mizuho reduced their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler lowered their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $61.90.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $52.16 on Friday. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The business’s fifty day moving average is $49.14 and its 200 day moving average is $51.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market cap of $48.94 billion, a price-to-earnings ratio of 21.38 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results 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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.63%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Research analysts predict that Occidental Petroleum Co. will post 3.56 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared 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 represents a $0.96 annualized dividend and a yield of 1.84%. 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 36.07%.

Insider Activity

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

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.