TT Capital Management LLC Buys New Shares in Occidental Petroleum Co. (NYSE:OXY)

TT Capital Management LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 10,880 shares of the oil and gas producer's stock, valued at approximately $557,000.

Several other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $40,000. Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $42,000. Finally, M Holdings Securities Inc. bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $47,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction on Friday, February 7th. The shares were purchased at an average price 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 of the company's stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on OXY. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a research report on Wednesday, March 26th. UBS Group decreased their target price 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. The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. Finally, TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $55.81.

Occidental Petroleum Stock Up 3.3 %

Shares of NYSE OXY traded up $1.27 during trading hours on Thursday, hitting $39.72. The stock had a trading volume of 13,284,802 shares, compared to its average volume of 10,801,934. The company has a market capitalization of $37.33 billion, a P/E ratio of 16.28 and a beta of 1.02. The firm's 50-day moving average price is $45.92 and its two-hundred day moving average price is $48.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $68.43.

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, topping 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 company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. Analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 10th were issued a dividend of $0.24 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Monday, March 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

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.