Clare Market Investments LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Clare Market Investments LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,131 shares of the oil and gas producer's stock, valued at approximately $1,044,000.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $27,000. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the third quarter valued at $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the third quarter valued at $50,000. Deseret Mutual Benefit Administrators lifted its holdings in Occidental Petroleum by 27.1% in 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 acquiring an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $59,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. 0.31% of the stock is owned by company insiders.

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Occidental Petroleum Trading Up 0.2 %

OXY traded up $0.11 during midday trading on Monday, hitting $47.35. The company's stock had a trading volume of 12,509,095 shares, compared to its average volume of 11,374,541. 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 firm has a market cap of $44.44 billion, a P/E ratio of 19.41 and a beta of 1.51. The firm has a 50-day moving average price of $49.25 and a two-hundred day moving average price of $50.58. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its 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 firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

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

Analysts Set New Price Targets

OXY has been the subject of a number of recent analyst reports. Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Mizuho cut their price target on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Finally, Susquehanna cut their price target on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.86.

Occidental Petroleum 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.