Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Carret Asset Management LLC

Carret Asset Management LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 75.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,028 shares of the oil and gas producer's stock after acquiring an additional 6,447 shares during the period. Carret Asset Management LLC's holdings in Occidental Petroleum were worth $743,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter worth about $27,000. Atala Financial Inc bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $59,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were bought 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Stephens reiterated an "overweight" rating and set a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Finally, UBS Group increased their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Three 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.45.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded up $0.40 during midday trading on Tuesday, reaching $47.66. The company had a trading volume of 8,341,517 shares, compared to its average volume of 11,248,855. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business's 50-day simple moving average is $48.88 and its 200 day simple moving average is $50.20. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. The stock has a market cap of $44.73 billion, a P/E ratio of 19.53 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 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $7.14 billion. On average, analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share 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 issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio (DPR) is 39.34%.

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.