Corebridge Financial Inc. Buys 3,691 Shares of Occidental Petroleum Co. (NYSE:OXY)

Corebridge Financial Inc. boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,986 shares of the oil and gas producer’s stock after acquiring an additional 3,691 shares during the period. Corebridge Financial Inc.’s holdings in Occidental Petroleum were worth $9,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OXY. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $40,000. Millstone Evans Group LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $42,000. Finally, M Holdings Securities Inc. purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $47,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on OXY shares. Piper Sandler reduced their target price 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. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price 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. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.82.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the 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 owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Up 1.5 %

OXY stock opened at $49.72 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average of $48.39 and a 200 day moving average of $49.91. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.19. The firm has a market cap of $46.67 billion, a PE ratio of 20.38 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results 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 return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued 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 is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.93%. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

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.