5,000 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Rahlfs Capital LLC

Rahlfs Capital LLC purchased a new position in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, Holdings Channel reports. The fund purchased 5,000 shares of the oil and gas producer’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Howard Capital Management Inc. grew its stake in shares of Occidental Petroleum by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares in the last quarter. Empire Financial Management Company LLC increased its holdings in shares of Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after acquiring an additional 250 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 250 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 7.4 %

OXY stock opened at $40.65 on Friday. Occidental Petroleum Co. has a 52 week low of $39.60 and a 52 week high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $38.20 billion, a P/E ratio of 16.66 and a beta of 1.51. The company’s 50-day moving average price is $47.88 and its 200 day moving average price is $49.73.

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, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.36%. Occidental Petroleum’s payout ratio is currently 39.34%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler lowered their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Raymond James cut shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Three equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.82.

Insider Buying and Selling 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 purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

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.