Horizon Investments LLC Acquires 257 Shares of Occidental Petroleum Co. (NYSE:OXY)

Horizon Investments LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,208 shares of the oil and gas producer’s stock after purchasing an additional 257 shares during the quarter. Horizon Investments LLC’s holdings in Occidental Petroleum were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in Occidental Petroleum in the fourth quarter worth about $40,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter worth about $50,000. Deseret Mutual Benefit Administrators lifted its holdings in Occidental Petroleum by 27.1% in 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 during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth about $59,000. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OXY shares. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Piper Sandler lowered their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. Citigroup lowered their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday. Finally, StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.45.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Up 0.1 %

Shares of OXY stock opened at $47.99 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19. The firm has a fifty day moving average price of $48.68 and a 200-day moving average price of $50.11. The company has a market cap of $45.04 billion, a price-to-earnings ratio of 19.67 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last released its earnings results 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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This is a boost 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 2.00%. Occidental Petroleum’s payout ratio is 39.34%.

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.