Uniting Wealth Partners LLC Purchases New Position in Occidental Petroleum Co. (NYSE:OXY)

Uniting Wealth Partners LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,150 shares of the oil and gas producer's stock, valued at approximately $502,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Scharf Investments LLC boosted its position in shares of Occidental Petroleum by 48.7% during 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 buying an additional 805,525 shares during the period. Anson Funds Management LP grew its stake in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock worth $39,453,000 after acquiring an additional 745,050 shares in the last quarter. Geode Capital Management LLC increased its stake 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 last quarter. Finally, Cooke & Bieler LP raised its holdings in Occidental Petroleum by 14.6% during the fourth quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer's stock worth $146,184,000 after acquiring an additional 377,952 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have commented on OXY shares. Citigroup cut their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Truist Financial raised their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. UBS Group upped their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Stephens reaffirmed an "overweight" rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Three 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $59.82.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $5.45 during midday trading on Thursday, reaching $43.88. The company's stock had a trading volume of 24,958,091 shares, compared to its average volume of 10,273,807. Occidental Petroleum Co. has a twelve month low of $43.79 and a twelve month high of $71.19. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $41.23 billion, a PE ratio of 17.98 and a beta of 1.51. The stock has a fifty day moving average of $48.05 and a 200 day moving average of $49.80.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, equities 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. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's payout ratio is presently 39.34%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company's stock.

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.