Metis Global Partners LLC Buys 1,026 Shares of Occidental Petroleum Co. (NYSE:OXY)

Metis Global Partners LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,791 shares of the oil and gas producer’s stock after purchasing an additional 1,026 shares during the quarter. Metis Global Partners LLC’s holdings in Occidental Petroleum were worth $1,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Certified Advisory Corp bought a new position in Occidental Petroleum in the fourth quarter valued at approximately $476,000. Rule One Partners LLC bought a new position in Occidental Petroleum in the third quarter valued at approximately $14,199,000. Stephens Inc. AR grew its stake in Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares in the last quarter. Sarasin & Partners LLP grew its stake in Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after purchasing an additional 50,983 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $2,509,000. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Susquehanna cut their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Finally, TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.55.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have acquired 6,854,394 shares of company stock worth $315,101,532. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $46.36 on Tuesday. The stock’s fifty day moving average price is $49.43 and its two-hundred day moving average price is $50.94. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. 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 firm has a market cap of $43.51 billion, a PE ratio of 19.00 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.14 billion. As a group, research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.