Fairfield Financial Advisors LTD Has $200,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Fairfield Financial Advisors LTD reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 71.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,049 shares of the oil and gas producer’s stock after selling 10,353 shares during the period. Fairfield Financial Advisors LTD’s holdings in Occidental Petroleum were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intellectus Partners LLC lifted its holdings in Occidental Petroleum by 44.6% during the fourth quarter. Intellectus Partners LLC now owns 19,910 shares of the oil and gas producer’s stock worth $988,000 after acquiring an additional 6,145 shares in the last quarter. AMF Tjanstepension AB bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $747,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $771,000. Banco Santander S.A. acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $1,023,000. Finally, Berkshire Asset Management LLC PA acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $356,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 3.4 %

Shares of OXY stock opened at $47.26 on Friday. The company’s fifty day simple moving average is $49.27 and its two-hundred day simple moving average is $50.72. 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 $44.70 and a 1 year high of $71.18. The stock has a market capitalization of $44.35 billion, a price-to-earnings ratio of 19.37 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.03%. Occidental Petroleum’s payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Roth Capital set a $54.00 price target on Occidental Petroleum in a research note on Thursday, January 23rd. TD Cowen cut their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wolfe Research increased their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.50.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders purchased 6,854,394 shares of company stock worth $315,101,532. Corporate insiders own 0.31% of the company’s stock.

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.