Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,245,357 shares of the oil and gas producer's stock after purchasing an additional 398,467 shares during the period. Geode Capital Management LLC owned about 1.52% of Occidental Petroleum worth $701,816,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. grew its position in shares of Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after buying an additional 248 shares during the period. Empire Financial Management Company LLC increased its stake in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock valued at $329,000 after acquiring an additional 250 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after acquiring an additional 250 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after purchasing an additional 257 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm's stock in a transaction on Friday, February 7th. The stock was bought 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 in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OXY. JPMorgan Chase & Co. decreased their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $54.00 to $45.00 in a report on Friday, January 31st. UBS Group boosted their target price on Occidental Petroleum from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Stephens restated an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Finally, Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus target price of $59.82.

Occidental Petroleum Stock Down 11.1 %

OXY stock traded down $5.45 during mid-day trading on Thursday, hitting $43.88. 24,958,091 shares of the company were exchanged, compared to its average volume of 10,273,807. The company has a market capitalization of $41.23 billion, a PE ratio of 17.98 and a beta of 1.51. The firm has a fifty day simple moving average of $48.05 and a 200 day simple moving average of $49.80. 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 Co. has a twelve month low of $43.79 and a twelve month high of $71.19.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, 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 disclosed 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. 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. This represents a $0.96 annualized dividend and a yield of 2.19%. 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.