Jump Financial LLC Invests $18.35 Million in Occidental Petroleum Co. (NYSE:OXY)

Jump Financial LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 371,454 shares of the oil and gas producer’s stock, valued at approximately $18,354,000.

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

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $37.90 on Tuesday. 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 $34.79 and a 1-year high of $69.44. The business’s fifty day moving average price is $46.27 and its two-hundred day moving average price is $48.95. The firm has a market capitalization of $35.62 billion, a PE ratio of 15.53 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY) last released its quarterly 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 return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. On average, research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm 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 represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OXY. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup decreased their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, March 17th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Raymond James cut Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $81.00 to $64.00 in a report on Monday, March 10th. Finally, Piper Sandler decreased their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.71.

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.