Oppenheimer & Co. Inc. Purchases 1,746 Shares of Occidental Petroleum Co. (NYSE:OXY)

Oppenheimer & Co. Inc. increased its position in Occidental Petroleum Co. (NYSE:OXY) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 246,029 shares of the oil and gas producer’s stock after buying an additional 1,746 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Occidental Petroleum were worth $12,156,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $50,000. Finally, Deseret Mutual Benefit Administrators increased its position in shares of Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OXY shares. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Stephens restated an “overweight” rating and issued a $71.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Truist Financial raised their target price 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 raised their target price on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $61.55.

Occidental Petroleum Stock Down 0.8 %

OXY stock opened at $48.50 on Thursday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The business has a fifty day moving average price of $49.36 and a 200-day moving average price of $51.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The stock has a market capitalization of $45.52 billion, a P/E ratio of 19.88 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last posted 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. The firm had revenue of $6.84 billion during 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%. Equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date 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 39.34%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 6,854,394 shares of company stock worth $315,101,532 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

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.