Frank Rimerman Advisors LLC Buys Shares of 8,688 Occidental Petroleum Co. (NYSE:OXY)

Frank Rimerman Advisors LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,688 shares of the oil and gas producer's stock, valued at approximately $429,000.

Several other institutional investors also recently made changes to their positions in OXY. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth $27,000. Atala Financial Inc bought a new position in shares of Occidental Petroleum during the fourth quarter worth about $40,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum during the third quarter worth about $50,000. Deseret Mutual Benefit Administrators raised its stake in 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 worth $58,000 after acquiring an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $59,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 0.1 %

Occidental Petroleum stock traded up $0.03 during mid-day trading on Thursday, reaching $47.99. The company's stock had a trading volume of 9,045,998 shares, compared to its average volume of 9,891,915. The company has a market capitalization of $45.04 billion, a price-to-earnings ratio of 19.67 and a beta of 1.51. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19. The business's 50 day simple moving average is $48.74 and its 200 day simple moving average is $50.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

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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 company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. 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 currently 39.34%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm's stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.