IPG Investment Advisors LLC Invests $2.82 Million in Occidental Petroleum Co. (NYSE:OXY)

IPG Investment Advisors LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,895 shares of the oil and gas producer's stock, valued at approximately $2,821,000.

A number of other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC boosted its holdings in Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer's stock worth $3,638,000 after buying an additional 15,316 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Occidental Petroleum by 14.8% during the third quarter. Glenmede Trust Co. NA now owns 66,570 shares of the oil and gas producer's stock worth $3,431,000 after acquiring an additional 8,563 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Occidental Petroleum by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 117,389 shares of the oil and gas producer's stock worth $6,050,000 after acquiring an additional 1,672 shares in the last quarter. Vinva Investment Management Ltd purchased a new position in shares of Occidental Petroleum in the third quarter valued at $570,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Occidental Petroleum by 57.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 532,454 shares of the oil and gas producer's stock valued at $27,448,000 after purchasing an additional 193,876 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

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Occidental Petroleum Trading Up 0.0 %

NYSE:OXY traded up $0.01 during trading hours on Wednesday, reaching $49.20. The company's stock had a trading volume of 2,589,073 shares, compared to its average volume of 10,200,514. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market capitalization of $46.24 billion, a price-to-earnings ratio of 20.16 and a beta of 1.51. The firm has a 50-day simple moving average of $48.20 and a 200-day simple moving average of $49.85. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed 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 1.95%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is 39.34%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a research note on Wednesday, March 26th. UBS Group increased their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Citigroup decreased their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Piper Sandler dropped their price objective on Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus target price of $59.82.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction 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 acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company's stock.

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.