RD Lewis Holdings Inc. Purchases New Position in Occidental Petroleum Co. (NYSE:OXY)

RD Lewis Holdings Inc. bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,609 shares of the oil and gas producer's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. H&H International Investment LLC lifted its stake in shares of Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after buying an additional 7,680,598 shares during the period. Scharf Investments LLC lifted its position in Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock worth $121,600,000 after purchasing an additional 805,525 shares during the period. Anson Funds Management LP boosted its stake in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock worth $39,453,000 after buying an additional 745,050 shares in the last quarter. Geode Capital Management LLC increased its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after buying an additional 444,850 shares during the period. Finally, Cooke & Bieler LP raised its stake in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer's stock valued at $146,184,000 after buying an additional 377,952 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price 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 in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Up 0.3 %

NYSE:OXY traded up $0.15 on Friday, hitting $48.11. 23,294,817 shares of the company's stock were exchanged, compared to its average volume of 9,959,359. The company has a market cap of $45.15 billion, a P/E ratio of 19.72 and a beta of 1.51. The firm has a 50-day moving average price of $48.68 and a 200-day moving average price of $50.11. 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 52 week low of $44.70 and a 52 week high of $71.19.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts' expectations 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 expect 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. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.34%.

Analyst Ratings Changes

A number of analysts recently weighed in on OXY shares. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $81.00 to $64.00 in a research note on Monday, March 10th. The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Stephens reaffirmed an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Mizuho dropped their price objective on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler reduced their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and a consensus target price of $60.45.

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.