RD Lewis Holdings Inc. Invests $262,000 in Occidental Petroleum Co. (NYSE:OXY)

RD Lewis Holdings Inc. bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,609 shares of the oil and gas producer’s stock, valued at approximately $262,000.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators increased its position in Occidental Petroleum by 27.1% in the 4th 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 period. Finally, New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $59,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OXY. Mizuho lowered their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Stephens reiterated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Piper Sandler lowered their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Citigroup lowered their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.45.

Occidental Petroleum Price Performance

OXY opened at $47.31 on Tuesday. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 19.39 and a beta of 1.51. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19. 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 fifty day moving average price of $48.88 and a 200 day moving average price of $50.20.

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

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

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.