Weinberger Asset Management Inc Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Weinberger Asset Management Inc increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 7.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,902 shares of the oil and gas producer’s stock after acquiring an additional 348 shares during the period. Weinberger Asset Management Inc’s holdings in Occidental Petroleum were worth $242,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. H&H International Investment LLC boosted its position in shares of 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 worth $475,389,000 after buying an additional 7,680,598 shares during the period. Scharf Investments LLC boosted its position in shares of 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 period. Anson Funds Management LP boosted its position in shares of 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 period. Geode Capital Management LLC boosted its position in shares of 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Occidental Petroleum during the third quarter worth $18,554,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 1.1 %

Occidental Petroleum stock opened at $49.87 on Tuesday. 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 debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market capitalization of $46.80 billion, a P/E ratio of 20.44 and a beta of 1.55. The stock has a 50-day simple moving average of $49.26 and a 200-day simple moving average of $51.28.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm 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%. Equities research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed 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 is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.93%. Occidental Petroleum’s dividend payout ratio is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum 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 bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased a total of 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of several research analyst reports. Jefferies Financial Group raised their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Roth Capital set a $54.00 target price on Occidental Petroleum in a report on Thursday, January 23rd. TD Cowen decreased their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Citigroup cut their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $61.55.

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.