Oakwell Private Wealth Management LLC Buys New Shares in Occidental Petroleum Co. (NYSE:OXY)

Oakwell Private Wealth Management LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,124 shares of the oil and gas producer’s stock, valued at approximately $401,000.

A number of other hedge funds also recently bought and sold shares of OXY. Louisiana State Employees Retirement System increased its holdings in Occidental Petroleum by 0.8% in the third quarter. Louisiana State Employees Retirement System now owns 37,900 shares of the oil and gas producer’s stock valued at $1,953,000 after buying an additional 300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Occidental Petroleum by 8.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,729 shares of the oil and gas producer’s stock valued at $2,027,000 after purchasing an additional 3,138 shares during the last quarter. Fortitude Family Office LLC raised its stake 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 in the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in shares of Occidental Petroleum by 32.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 105,823 shares of the oil and gas producer’s stock valued at $5,454,000 after purchasing an additional 25,927 shares during the last quarter. Finally, Milestones Administradora de Recursos Ltda. boosted its position in shares of Occidental Petroleum by 151.3% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 175,320 shares of the oil and gas producer’s stock valued at $9,036,000 after purchasing an additional 105,560 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OXY has been the topic of several research analyst reports. Roth Capital set a $54.00 price target on Occidental Petroleum in a research report on Thursday, January 23rd. Stephens reiterated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Citigroup decreased their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Wolfe Research lifted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $61.55.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $48.87 on Wednesday. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market cap of $45.86 billion, a PE ratio of 20.03 and a beta of 1.55. The firm’s 50-day simple moving average is $49.31 and its 200-day simple moving average is $51.21.

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. 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%. Equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

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.