Inkwell Capital LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,397 shares of the oil and gas producer's stock, valued at approximately $860,000.
Several other institutional investors and hedge funds also recently modified their holdings of OXY. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $40,000. Millstone Evans Group LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $42,000. Finally, M Holdings Securities Inc. acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
Occidental Petroleum Stock Up 1.2 %
Shares of Occidental Petroleum stock traded up $0.58 during trading hours on Monday, hitting $49.41. 8,501,189 shares of the company's stock traded hands, compared to its average volume of 10,239,044. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.19. The stock has a 50 day simple moving average of $48.28 and a 200-day simple moving average of $49.87. The company has a market cap of $46.43 billion, a PE ratio of 20.25 and a beta of 1.51.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. 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 1.94%. Occidental Petroleum's dividend payout ratio is currently 39.34%.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Citigroup cut their price target 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, March 17th. Finally, The Goldman Sachs Group cut shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $59.82.
Read Our Latest Analysis on OXY
Insiders Place Their Bets
In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The shares were bought at an average price 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 approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.
About Occidental Petroleum
(
Free Report)
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.
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