Oak Grove Capital LLC Has $277,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Oak Grove Capital LLC trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,600 shares of the oil and gas producer’s stock after selling 500 shares during the period. Oak Grove Capital LLC’s holdings in Occidental Petroleum were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in OXY. Geode Capital Management LLC grew its stake 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 valued at $710,886,000 after acquiring an additional 444,850 shares in the last quarter. H&H International Investment LLC boosted its holdings in Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Occidental Petroleum by 5.7% during the 4th 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 purchasing an additional 229,210 shares in the last quarter. Scharf Investments LLC increased its holdings in shares of 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 raised its position in shares of Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after buying an additional 5,200 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.3 %

OXY opened at $46.60 on Wednesday. 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 fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company’s 50 day moving average price is $49.40 and its two-hundred day moving average price is $50.86. The firm has a market capitalization of $43.73 billion, a price-to-earnings ratio of 19.10 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s payout ratio is currently 39.34%.

Wall Street Analyst Weigh In

OXY has been the subject of several analyst reports. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Mizuho cut their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Wolfe Research upped their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler decreased their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $61.55.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders bought 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by company insiders.

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.