New York State Common Retirement Fund Acquires 13,633 Shares of Occidental Petroleum Co. (NYSE:OXY)

New York State Common Retirement Fund lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 740,970 shares of the oil and gas producer’s stock after acquiring an additional 13,633 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Occidental Petroleum worth $36,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $476,000. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $14,199,000. Stephens Inc. AR lifted its position in shares of Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares during the period. Sarasin & Partners LLP lifted its position in shares of Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after acquiring an additional 50,983 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $2,509,000. 88.70% of the stock is currently owned by institutional investors.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the transaction, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 2.3 %

Shares of OXY stock opened at $52.16 on Friday. The stock has a market cap of $48.94 billion, a price-to-earnings ratio of 21.38 and a beta of 1.55. The stock has a 50-day moving average of $49.14 and a 200-day moving average of $51.45. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 16.63% and a net margin of 11.37%. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.56 earnings per share for the current 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 given a dividend of $0.24 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. Occidental Petroleum’s dividend payout ratio is presently 36.07%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OXY shares. Stephens reiterated an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday. Piper Sandler lowered their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Finally, TD Cowen lowered their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.90.

About Occidental Petroleum

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.