Frank Rimerman Advisors LLC Takes $429,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Frank Rimerman Advisors LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, Holdings Channel.com reports. The fund acquired 8,688 shares of the oil and gas producer’s stock, valued at approximately $429,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators boosted its holdings in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after acquiring an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the transaction, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Piper Sandler cut their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Mizuho cut their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.68.

Occidental Petroleum Trading Up 2.5 %

NYSE OXY opened at $46.58 on Monday. The firm has a market capitalization of $43.71 billion, a P/E ratio of 19.09 and a beta of 1.51. The business has a fifty day simple moving average of $48.95 and a 200 day simple moving average of $50.27. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last released 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. The business had revenue of $6.84 billion during 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%. On average, analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date 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 dividend yield of 2.06%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

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.