Deseret Mutual Benefit Administrators Buys 248 Shares of Occidental Petroleum Co. (NYSE:OXY)

Deseret Mutual Benefit Administrators raised its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 27.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,164 shares of the oil and gas producer’s stock after purchasing an additional 248 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Occidental Petroleum were worth $58,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of OXY. H&H International Investment LLC grew its holdings in Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Scharf Investments LLC grew its holdings in Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares during the period. Anson Funds Management LP grew its holdings in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares during the period. Geode Capital Management LLC grew its holdings in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Occidental Petroleum during the third quarter valued at about $18,554,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 3.2 %

Shares of NYSE OXY opened at $50.42 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 business’s 50 day moving average price is $49.20 and its 200-day moving average price is $51.37. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a market cap of $47.31 billion, a price-to-earnings ratio of 20.66 and a beta of 1.55.

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 (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.90%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OXY shares. Truist Financial upped their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Susquehanna dropped their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. TD Cowen dropped their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.55.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Company 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.