Philadelphia Trust Co. Acquires 875 Shares of Occidental Petroleum Co. (NYSE:OXY)

Philadelphia Trust Co. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 16.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,190 shares of the oil and gas producer’s stock after purchasing an additional 875 shares during the period. Philadelphia Trust Co.’s holdings in Occidental Petroleum were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OXY. Howard Capital Management Inc. grew its position in Occidental Petroleum by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after buying an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings 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 worth $58,000 after purchasing an additional 248 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 250 shares during the period. Horizon Investments LLC raised its stake in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after purchasing an additional 257 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Occidental Petroleum by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer’s stock worth $2,863,000 after purchasing an additional 290 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE OXY opened at $37.68 on Friday. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 15.44 and a beta of 1.02. 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 twelve month low of $34.79 and a twelve month high of $71.19. The stock has a fifty day simple moving average of $46.46 and a 200 day simple moving average of $49.05.

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, beating the consensus estimate of $0.67 by $0.13. The company 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%. Sell-side analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current 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 $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Stephens reissued an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Finally, UBS Group reduced their price objective on Occidental Petroleum from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $56.71.

Occidental Petroleum Company 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.