Occidental Petroleum Co. (NYSE:OXY) Stake Boosted by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 80.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,248 shares of the oil and gas producer’s stock after buying an additional 1,450 shares during the quarter. Strategic Investment Solutions Inc. IL’s holdings in Occidental Petroleum were worth $177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Occidental Petroleum by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer’s stock worth $701,816,000 after purchasing an additional 398,467 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the period. Charles Schwab Investment Management Inc. grew its position in Occidental Petroleum by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock valued at $209,349,000 after purchasing an additional 229,210 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Occidental Petroleum by 48.1% in the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock valued at $203,459,000 after buying an additional 1,337,728 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 1.8 %

Shares of OXY stock opened at $38.47 on Thursday. The firm has a market capitalization of $36.15 billion, a P/E ratio of 15.77 and a beta of 1.02. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $68.43. The firm’s fifty day simple moving average is $45.92 and its 200 day simple moving average is $48.80. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted 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 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 the consensus estimate of $7.14 billion. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 10th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Analyst Ratings Changes

Several equities analysts have recently commented on OXY shares. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. TD Cowen lowered Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Piper Sandler dropped their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.81.

Insiders Place Their Bets

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

Occidental Petroleum 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.