Jackson Hole Capital Partners LLC Invests $322,000 in Occidental Petroleum Co. (NYSE:OXY)

Jackson Hole Capital Partners LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, HoldingsChannel reports. The fund acquired 6,514 shares of the oil and gas producer’s stock, valued at approximately $322,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the third quarter worth approximately $50,000. Deseret Mutual Benefit Administrators raised its position in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum in the fourth quarter worth approximately $59,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was 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 of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. TD Cowen reduced their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wolfe Research increased their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup reduced their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.50.

Occidental Petroleum Price Performance

OXY stock opened at $47.26 on Friday. The company has a fifty day simple moving average of $49.27 and a two-hundred day simple moving average of $50.68. The firm has a market capitalization of $44.35 billion, a P/E ratio of 19.37 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) 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 analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. 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 dividend payout ratio (DPR) is 39.34%.

About Occidental Petroleum

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.