Frank Rimerman Advisors LLC Takes $429,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Frank Rimerman Advisors LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,688 shares of the oil and gas producer’s stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OXY. H&H International Investment LLC raised its holdings in shares of Occidental Petroleum by 497.7% in 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 last quarter. Scharf Investments LLC increased 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 worth $121,600,000 after buying an additional 805,525 shares during the last quarter. Anson Funds Management LP increased 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 worth $39,453,000 after buying an additional 745,050 shares during the last quarter. Geode Capital Management LLC increased 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 worth $710,886,000 after buying an additional 444,850 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in Occidental Petroleum by 14.6% during the fourth quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock worth $146,184,000 after buying an additional 377,952 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 2.5 %

OXY stock opened at $46.58 on Monday. The company has a market cap of $43.71 billion, a PE ratio of 19.09 and a beta of 1.51. The business has a 50-day simple moving average of $48.95 and a 200 day simple moving average of $50.27. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week 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.

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

Occidental Petroleum Increases Dividend

The firm also recently announced 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. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.06%. Occidental Petroleum’s payout ratio is presently 39.34%.

Analysts Set New Price Targets

OXY has been the topic of a number of recent analyst reports. Mizuho lowered their target price 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. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $81.00 to $64.00 in a report on Monday, March 10th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.68.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.48% of the stock is currently owned by corporate insiders.

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.