Banco Santander S.A. Purchases New Stake in Occidental Petroleum Co. (NYSE:OXY)

Banco Santander S.A. acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,700 shares of the oil and gas producer's stock, valued at approximately $1,023,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Berkshire Asset Management LLC PA acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $356,000. Edgestream Partners L.P. bought a new stake in Occidental Petroleum in the 4th quarter valued at about $1,008,000. Callan Family Office LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $1,966,000. Candriam S.C.A. increased its position in Occidental Petroleum by 2.6% in the 4th quarter. Candriam S.C.A. now owns 44,056 shares of the oil and gas producer's stock valued at $2,177,000 after buying an additional 1,115 shares in the last quarter. Finally, Freestone Capital Holdings LLC increased its holdings in Occidental Petroleum by 57.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 7,217 shares of the oil and gas producer's stock worth $357,000 after purchasing an additional 2,621 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

OXY traded up $0.11 on Monday, reaching $47.35. 12,509,095 shares of the company's stock were exchanged, compared to its average volume of 11,374,541. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The stock has a market cap of $44.44 billion, a PE ratio of 19.41 and a beta of 1.51. The stock's fifty day moving average price is $49.25 and its 200-day moving average price is $50.58. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.18.

Remove Ads

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Sell-side analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the transaction, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research analyst reports. TD Cowen cut their target price on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $81.00 to $64.00 in a report on Monday. UBS Group raised their price target on Occidental Petroleum from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Piper Sandler lowered their price objective on Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Truist Financial increased their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.