Oppenheimer & Co. Inc. Acquires 1,746 Shares of Occidental Petroleum Co. (NYSE:OXY)

Oppenheimer & Co. Inc. increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 246,029 shares of the oil and gas producer’s stock after purchasing an additional 1,746 shares during the period. Oppenheimer & Co. Inc.’s holdings in Occidental Petroleum were worth $12,156,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Occidental Petroleum by 3.3% during 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 purchasing an additional 444,850 shares during the period. H&H International Investment LLC grew its holdings in Occidental Petroleum by 497.7% during 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 purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares during the period. Scharf Investments LLC grew its holdings in Occidental Petroleum by 48.7% during 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 purchasing an additional 805,525 shares during the period. Finally, Swiss National Bank grew its holdings in Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after purchasing an additional 5,200 shares during the period. Institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 6,854,394 shares of company stock worth $315,101,532 over the last ninety days. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $48.50 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. The company has a market capitalization of $45.52 billion, a PE ratio of 19.88 and a beta of 1.55. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The stock has a 50-day moving average price of $49.36 and a two-hundred day moving average price of $51.19.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. 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. This represents a $0.96 annualized dividend and a yield of 1.98%. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OXY. TD Cowen decreased their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup lowered their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Jefferies Financial Group lifted their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.55.

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.