Aquatic Capital Management LLC Invests $1.45 Million in Occidental Petroleum Co. (NYSE:OXY)

Aquatic Capital Management LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,317 shares of the oil and gas producer's stock, valued at approximately $1,449,000.

Other large investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $40,000. Finally, Millstone Evans Group LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $42,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 2.7 %

NYSE OXY traded up $1.05 on Thursday, reaching $40.46. The company had a trading volume of 10,661,866 shares, compared to its average volume of 10,897,678. The firm has a market capitalization of $38.03 billion, a PE ratio of 16.58 and a beta of 1.02. The firm has a 50-day moving average of $44.07 and a 200-day moving average of $47.82. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $65.78.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.14 billion. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.37%. Occidental Petroleum's payout ratio is currently 39.34%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OXY shares. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target on the stock. in a research note on Friday, April 11th. Truist Financial raised their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus target price of $54.19.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company's stock.

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.