Life Planning Partners Inc Takes $1.49 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Life Planning Partners Inc acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,051 shares of the oil and gas producer's stock, valued at approximately $1,485,000.

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

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Insider Buying and Selling

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

Occidental Petroleum Price Performance

Shares of NYSE OXY traded up $0.01 during midday trading 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 market cap of $46.24 billion, a P/E ratio of 20.16 and a beta of 1.51. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. 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 business's 50 day moving average price is $48.20 and its two-hundred day moving average price is $49.85.

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, topping 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 company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued 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 is Monday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OXY shares. JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $81.00 to $64.00 in a research note on Monday, March 10th. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three investment 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 MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $59.82.

About Occidental Petroleum

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.