Horizon Investments LLC Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Horizon Investments LLC grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,208 shares of the oil and gas producer’s stock after acquiring an additional 257 shares during the quarter. Horizon Investments LLC’s holdings in Occidental Petroleum were worth $554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Advisors Asset Management Inc. raised its position in shares of Occidental Petroleum by 22.6% during the 4th quarter. Advisors Asset Management Inc. now owns 52,127 shares of the oil and gas producer’s stock valued at $2,576,000 after buying an additional 9,619 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Occidental Petroleum by 1.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 57,688 shares of the oil and gas producer’s stock valued at $2,860,000 after buying an additional 976 shares in the last quarter. Kennondale Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $791,000. Tejara Capital Ltd raised its position in shares of Occidental Petroleum by 11.2% during the 4th quarter. Tejara Capital Ltd now owns 163,991 shares of the oil and gas producer’s stock valued at $8,103,000 after buying an additional 16,527 shares in the last quarter. Finally, RD Lewis Holdings Inc. purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $262,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm’s stock in a transaction that occurred 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. The trade was a 0.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Price Performance

NYSE OXY opened at $47.99 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm’s 50 day moving average price is $48.68 and its 200-day moving average price is $50.11. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.19. The company has a market cap of $45.04 billion, a PE ratio of 19.67 and a beta of 1.51.

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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company 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 dividend of $0.24 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.00%. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a report on Thursday, January 23rd. Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Piper Sandler cut their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Citigroup cut their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.45.

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.