IronBridge Private Wealth LLC Has $4.22 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

IronBridge Private Wealth LLC lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,410 shares of the oil and gas producer's stock after acquiring an additional 37,019 shares during the quarter. Occidental Petroleum makes up about 1.5% of IronBridge Private Wealth LLC's investment portfolio, making the stock its 19th largest position. IronBridge Private Wealth LLC's holdings in Occidental Petroleum were worth $4,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $27,000. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $27,000. Atala Financial Inc acquired a new position in Occidental Petroleum in the fourth quarter valued at about $40,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $42,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OXY. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target on the stock. in a research report on Friday, April 11th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. UBS Group lowered their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Piper Sandler reduced their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.19.

Occidental Petroleum Stock Up 1.6 %

OXY stock traded up $0.65 during midday trading on Thursday, hitting $40.48. The company's stock had a trading volume of 4,693,332 shares, compared to its average volume of 12,632,729. The company's fifty day moving average price is $45.07 and its 200 day moving average price is $48.32. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a twelve month low of $34.78 and a twelve month high of $68.43. The stock has a market capitalization of $38.05 billion, a P/E ratio of 16.59 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Monday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Activity at Occidental Petroleum

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

Occidental Petroleum 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.