Y Intercept Hong Kong Ltd Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Y Intercept Hong Kong Ltd acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,331 shares of the oil and gas producer’s stock, valued at approximately $1,054,000.

A number of other large investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC increased its position in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the third quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the third quarter valued at $50,000. Deseret Mutual Benefit Administrators raised its position 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 during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $59,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $48.50 on Thursday. The stock’s 50 day moving average is $49.36 and its 200-day moving average is $51.19. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $45.52 billion, a price-to-earnings ratio of 19.88 and a beta of 1.55.

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 for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Sell-side 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 paid a dividend of $0.24 per share. 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 1.98%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 6,854,394 shares of company stock valued at $315,101,532. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OXY. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. TD Cowen decreased their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Mizuho dropped their price target on shares of 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 objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.55.

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.