Murphy & Mullick Capital Management Corp Invests $53,000 in Occidental Petroleum Co. (NYSE:OXY)

Murphy & Mullick Capital Management Corp bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,074 shares of the oil and gas producer’s stock, valued at approximately $53,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Certified Advisory Corp acquired a new position in shares of Occidental Petroleum during the fourth quarter worth about $476,000. Rule One Partners LLC acquired a new position in Occidental Petroleum during the 3rd quarter worth approximately $14,199,000. Fisher Asset Management LLC boosted its holdings in Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after acquiring an additional 6,461 shares during the period. Sarasin & Partners LLP raised its stake 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. Finally, Weiss Asset Management LP acquired a new position in shares of Occidental Petroleum during the third quarter worth $2,509,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday. Finally, Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.82.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction that occurred on 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 completion of the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 0.6 %

NYSE:OXY opened at $49.47 on Friday. The firm has a market capitalization of $46.49 billion, a P/E ratio of 20.28 and a beta of 1.51. The business has a 50 day simple moving average of $48.34 and a 200 day simple moving average of $49.91. 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 12-month low of $44.70 and a 12-month high of $71.19.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Equities research analysts predict 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 1.94%. The ex-dividend date 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%.

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.