One68 Global Capital LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,000 shares of the oil and gas producer's stock, valued at approximately $445,000.
Other hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at $27,000. Atala Financial Inc purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at $40,000. Finally, Millstone Evans Group LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
Insider Activity at Occidental Petroleum
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.
Occidental Petroleum Stock Performance
OXY stock traded up $0.17 on Friday, hitting $40.61. The company's stock had a trading volume of 10,570,829 shares, compared to its average volume of 10,918,033. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $65.78. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market cap of $38.16 billion, a price-to-earnings ratio of 16.64 and a beta of 1.02. The firm has a 50 day moving average of $43.89 and a two-hundred day moving average of $47.72.
Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is presently 39.34%.
Wall Street Analysts Forecast Growth
OXY has been the topic of a number of recent research reports. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Piper Sandler cut their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Citigroup reduced their price objective on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $54.19.
Read Our Latest Report on Occidental Petroleum
About Occidental Petroleum
(
Free Report)
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.
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