Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Twin Capital Management Inc.

Twin Capital Management Inc. grew its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 142.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,748 shares of the oil and gas producer's stock after buying an additional 12,794 shares during the period. Twin Capital Management Inc.'s holdings in Occidental Petroleum were worth $1,075,000 at the end of the most recent quarter.

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

Occidental Petroleum Price Performance

NYSE:OXY traded up $0.82 during trading hours on Friday, hitting $37.29. 9,822,885 shares of the stock were exchanged, compared to its average volume of 10,759,169. The company has a market cap of $35.05 billion, a P/E ratio of 15.17 and a beta of 1.02. The firm's fifty day moving average price is $46.66 and its 200 day moving average price is $49.14. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating 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 firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.57%. 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 is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business's stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OXY shares. UBS Group dropped their price objective on shares of Occidental Petroleum from $52.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Stephens reissued an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and a consensus target price of $56.71.

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.