HUB Investment Partners LLC Has $755,000 Stock Position in Occidental Petroleum Co. (NYSE:OXY)

HUB Investment Partners LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.1% in the 4th quarter, Holdings Channel reports. The firm owned 15,273 shares of the oil and gas producer’s stock after selling 2,709 shares during the period. HUB Investment Partners LLC’s holdings in Occidental Petroleum were worth $755,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $40,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the third quarter worth $50,000. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 248 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OXY. UBS Group upped their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Mizuho lowered their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.45.

Occidental Petroleum Stock Performance

Shares of OXY opened at $47.99 on Friday. 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 market capitalization of $45.04 billion, a P/E ratio of 19.67 and a beta of 1.51. The firm’s fifty day simple moving average is $48.68 and its two-hundred day simple moving average is $50.11. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $7.14 billion. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio 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.