Occidental Petroleum Co. (NYSE:OXY) Holdings Lifted by Harbour Investments Inc.

Harbour Investments Inc. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 64.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,967 shares of the oil and gas producer’s stock after acquiring an additional 3,123 shares during the period. Harbour Investments Inc.’s holdings in Occidental Petroleum were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OXY. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum in the fourth quarter worth about $40,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the 3rd quarter valued at about $50,000. Deseret Mutual Benefit Administrators increased its stake 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 valued at $58,000 after buying an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $59,000. 88.70% of the stock is owned by institutional investors.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of research analyst reports. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. 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 research note on Thursday, March 6th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Trading Up 0.1 %

Shares of NYSE OXY opened at $47.99 on Friday. The firm has a market capitalization of $45.04 billion, a PE ratio of 19.67 and a beta of 1.51. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $48.68 and a two-hundred day moving average price of $50.11.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data 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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

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.