Elo Mutual Pension Insurance Co Purchases 3,391 Shares of Occidental Petroleum Co. (NYSE:OXY)

Elo Mutual Pension Insurance Co grew its holdings in Occidental Petroleum Co. (NYSE:OXY) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,244 shares of the oil and gas producer’s stock after buying an additional 3,391 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Occidental Petroleum were worth $3,668,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OXY. Howard Capital Management Inc. grew its position in shares of Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after buying an additional 216 shares during the period. Deseret Mutual Benefit Administrators increased its stake in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 248 shares in the last quarter. Empire Financial Management Company LLC lifted its position in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after acquiring an additional 250 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after purchasing an additional 250 shares in the last quarter. Finally, Horizon Investments LLC boosted its position in Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock worth $554,000 after acquiring an additional 257 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Price Performance

OXY opened at $48.84 on Friday. The stock has a 50-day moving average price of $48.28 and a 200-day moving average price of $49.89. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a market cap of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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. This is an increase 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 dividend yield of 1.97%. Occidental Petroleum’s payout ratio is presently 39.34%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. Truist Financial lifted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Piper Sandler cut their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. 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 company. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $59.82.

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.