Cove Street Capital LLC Acquires 7,509 Shares of Occidental Petroleum Co. (NYSE:OXY)

Cove Street Capital LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 55.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,969 shares of the oil and gas producer's stock after acquiring an additional 7,509 shares during the period. Cove Street Capital LLC's holdings in Occidental Petroleum were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. IPG Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $2,821,000. Life Planning Partners Inc acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $1,485,000. Cornercap Investment Counsel Inc. grew its stake in shares of Occidental Petroleum by 121.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 31,886 shares of the oil and gas producer's stock valued at $1,575,000 after buying an additional 17,496 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its stake in Occidental Petroleum by 120.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 2,121 shares of the oil and gas producer's stock worth $105,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Allstate Corp purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $942,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of recent research reports. Truist Financial lifted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Piper Sandler lowered their target price 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. JPMorgan Chase & Co. dropped their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $59.82.

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Occidental Petroleum Trading Up 1.2 %

OXY traded up $0.58 during trading on Monday, reaching $49.41. 8,501,189 shares of the company's stock were exchanged, compared to its average volume of 10,239,044. The stock has a market capitalization of $46.43 billion, a PE ratio of 20.25 and a beta of 1.51. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The firm has a fifty day moving average price of $48.28 and a two-hundred day moving average price of $49.87. 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 (NYSE:OXY - Get Free Report) last posted 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 firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's dividend payout ratio is 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

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.