Marshall Investment Management LLC Invests $269,000 in Occidental Petroleum Co. (NYSE:OXY)

Marshall Investment Management LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 5,225 shares of the oil and gas producer’s stock, valued at approximately $269,000.

Several other hedge funds have also made changes to their positions in OXY. Foundations Investment Advisors LLC lifted its position in shares of Occidental Petroleum by 6.7% during the third quarter. Foundations Investment Advisors LLC now owns 10,668 shares of the oil and gas producer’s stock worth $550,000 after purchasing an additional 670 shares in the last quarter. Grimes & Company Inc. increased its stake in shares of Occidental Petroleum by 7.7% during the third quarter. Grimes & Company Inc. now owns 4,133 shares of the oil and gas producer’s stock worth $213,000 after buying an additional 296 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Occidental Petroleum by 0.8% during the third quarter. Louisiana State Employees Retirement System now owns 37,900 shares of the oil and gas producer’s stock worth $1,953,000 after buying an additional 300 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Occidental Petroleum by 8.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,729 shares of the oil and gas producer’s stock worth $2,027,000 after buying an additional 3,138 shares during the period. Finally, PFG Investments LLC increased its stake in shares of Occidental Petroleum by 13.7% during the third quarter. PFG Investments LLC now owns 20,163 shares of the oil and gas producer’s stock worth $1,039,000 after buying an additional 2,436 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 6,854,394 shares of company stock valued at $315,101,532 over the last three months. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Price Performance

OXY stock opened at $50.42 on Friday. The company has a market capitalization of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The business has a 50 day simple moving average of $49.20 and a 200-day simple moving average of $51.37. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping 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 analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 10th. 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 1.90%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Analysts Set New Price Targets

A number of analysts recently weighed in on OXY shares. TD Cowen cut their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. UBS Group upped their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James upped their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Stephens reiterated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $61.55.

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.