Occidental Petroleum Co. (NYSE:OXY) Position Increased by NEOS Investment Management LLC

NEOS Investment Management LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,156 shares of the oil and gas producer's stock after buying an additional 8,705 shares during the quarter. NEOS Investment Management LLC's holdings in Occidental Petroleum were worth $1,836,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum in the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $40,000. Millstone Evans Group LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth approximately $42,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $47,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

OXY stock traded down $0.14 on Tuesday, reaching $49.22. The company's stock had a trading volume of 5,907,399 shares, compared to its average volume of 10,230,235. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market capitalization of $46.25 billion, a P/E ratio of 20.17 and a beta of 1.51. The firm has a fifty day moving average of $48.20 and a two-hundred day moving average of $49.85.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for 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%. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 EPS 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. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's payout ratio is 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business's stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of research analyst reports. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Stephens reissued an "overweight" rating and issued a $71.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 19th. Finally, UBS Group increased 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. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.82.

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.