AXQ Capital LP Invests $542,000 in Occidental Petroleum Co. (NYSE:OXY)

AXQ Capital LP bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,973 shares of the oil and gas producer's stock, valued at approximately $542,000.

A number of other large investors have also recently added to or reduced their stakes in OXY. Howard Capital Management Inc. increased its stake in Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock worth $209,000 after purchasing an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of 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 purchasing an additional 248 shares in the last quarter. Empire Financial Management Company LLC lifted its holdings in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock valued at $329,000 after buying an additional 250 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after buying an additional 250 shares in the last quarter. Finally, Horizon Investments LLC increased its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after buying an additional 257 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business's stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Piper Sandler reduced their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Truist Financial increased their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $60.45.

Occidental Petroleum Stock Performance

OXY traded up $1.13 on Tuesday, hitting $49.05. 11,100,228 shares of the stock traded hands, compared to its average volume of 10,005,434. The business has a fifty day moving average price of $48.45 and a two-hundred day moving average price of $49.91. 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 52 week low of $44.70 and a 52 week high of $71.19. The firm has a market capitalization of $46.03 billion, a PE ratio of 20.10 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The business 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, research 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 paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.96%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's payout ratio is presently 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.