Capital Square LLC Makes New $295,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

Capital Square LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 5,980 shares of the oil and gas producer’s stock, valued at approximately $295,000.

Several other institutional investors have also modified their holdings of the company. Certified Advisory Corp acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at $14,199,000. Benchmark Investment Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth $642,000. Fisher Asset Management LLC grew its stake in shares of Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Finally, Sarasin & Partners LLP increased its holdings in shares of Occidental Petroleum by 5.4% during the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after purchasing an additional 50,983 shares during the period. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OXY shares. UBS Group decreased their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial boosted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. TD Cowen lowered Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research note on Thursday, January 23rd. Finally, Citigroup decreased their target price on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.81.

Occidental Petroleum Trading Up 1.8 %

Shares of NYSE OXY opened at $38.47 on Thursday. 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 Co. has a one year low of $34.79 and a one year high of $68.43. The business has a 50-day moving average price of $45.92 and a two-hundred day moving average price of $48.80. The firm has a market capitalization of $36.15 billion, a PE ratio of 15.77 and a beta of 1.02.

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 was paid on Tuesday, April 15th. Investors of record on Monday, March 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend 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 was Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.