Tejara Capital Ltd Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Tejara Capital Ltd raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,991 shares of the oil and gas producer’s stock after acquiring an additional 16,527 shares during the quarter. Occidental Petroleum makes up about 5.2% of Tejara Capital Ltd’s investment portfolio, making the stock its 6th biggest position. Tejara Capital Ltd’s holdings in Occidental Petroleum were worth $8,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OXY. Geode Capital Management LLC lifted its position in shares of Occidental Petroleum by 3.3% in 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 in the last quarter. H&H International Investment LLC lifted its position in shares of Occidental Petroleum by 497.7% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock worth $209,349,000 after buying an additional 229,210 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of Occidental Petroleum by 14.6% in the fourth quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock worth $146,184,000 after buying an additional 377,952 shares in the last quarter. Finally, Scharf Investments LLC lifted its position in shares of Occidental Petroleum by 48.7% in 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 in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY opened at $47.31 on Tuesday. The stock has a 50-day moving average of $48.88 and a two-hundred day moving average of $50.20. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. 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 stock has a market cap of $44.40 billion, a P/E ratio of 19.39 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7.14 billion. As a group, research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on OXY. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Stephens restated an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Citigroup decreased their price objective on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Company 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.