Occidental Petroleum Co. (NYSE:OXY) Stock Position Increased by Carmel Capital Partners LLC

Carmel Capital Partners LLC grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 43.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,911 shares of the oil and gas producer’s stock after buying an additional 10,811 shares during the quarter. Occidental Petroleum comprises 0.7% of Carmel Capital Partners LLC’s holdings, making the stock its 26th biggest position. Carmel Capital Partners LLC’s holdings in Occidental Petroleum were worth $1,774,000 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. H&H International Investment LLC raised its position in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Scharf Investments LLC lifted its stake in Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares during the last quarter. Anson Funds Management LP lifted its stake in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares during the last quarter. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Occidental Petroleum during the third quarter valued at approximately $18,554,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

OXY stock opened at $45.55 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $42.74 billion, a price-to-earnings ratio of 18.67 and a beta of 1.55. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The firm has a 50 day moving average of $49.34 and a two-hundred day moving average of $50.82.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data 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 business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is currently 39.34%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders bought 6,854,394 shares of company stock valued at $315,101,532. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler cut their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Wolfe Research boosted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens restated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $61.55.

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.