Rep. Robert Bresnahan, Jr. Purchases Shares of Occidental Petroleum Co. (NYSE:OXY)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Occidental Petroleum Co. NYSE: OXY. In a filing disclosed on March 27th, the Representative disclosed that they had bought between $15,001 and $50,000 in Occidental Petroleum stock on February 25th.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 3/7/2025.
• Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/6/2025.
• Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/5/2025.
• Sold $1,001 - $15,000 in shares of Credo Technology Group NASDAQ: CRDO on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Twilio NYSE: TWLO on 3/4/2025.
• Sold $15,001 - $50,000 in shares of Alibaba Group NYSE: BABA on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Zoom Video Communications NASDAQ: ZM on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/3/2025.
• Purchased $1,001 - $15,000 in shares of Snowflake NYSE: SNOW on 3/3/2025.

Occidental Petroleum Trading Down 0.7 %

Shares of Occidental Petroleum stock traded down $0.37 during trading hours on Tuesday, reaching $48.99. 2,614,197 shares of the company's stock were exchanged, compared to its average volume of 11,133,430. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.18. The company has a fifty day moving average of $48.22 and a 200-day moving average of $49.86. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 20.08 and a beta of 1.51.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results 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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Sell-side analysts forecast 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. Investors 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 yield of 1.96%. 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. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of Occidental Petroleum by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 108,232 shares of the oil and gas producer's stock worth $5,348,000 after buying an additional 5,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Occidental Petroleum by 25.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 95,888 shares of the oil and gas producer's stock worth $4,738,000 after acquiring an additional 19,734 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in Occidental Petroleum during the fourth quarter valued at about $1,144,000. Northstar Financial Companies Inc. acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $486,000. Finally, Siemens Fonds Invest GmbH increased its stake in shares of Occidental Petroleum by 30.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 43,293 shares of the oil and gas producer's stock worth $2,139,000 after purchasing an additional 10,003 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was purchased at an average cost 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 trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on OXY shares. JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Finally, Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Three investment 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. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus price target of $59.82.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.