Jackson Hole Capital Partners LLC Acquires New Shares in Occidental Petroleum Co. (NYSE:OXY)

Jackson Hole Capital Partners LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 6,514 shares of the oil and gas producer’s stock, valued at approximately $322,000.

A number of other hedge funds have also bought and sold shares of OXY. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum in the 4th quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $50,000. Deseret Mutual Benefit Administrators grew 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 valued at $58,000 after purchasing an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $59,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of recent analyst reports. Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. TD Cowen reduced their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Mizuho dropped their price objective 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. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.50.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $47.26 on Friday. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company’s 50-day moving average is $49.27 and its 200 day moving average is $50.68. The stock has a market capitalization of $44.35 billion, a P/E ratio of 19.37 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. 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 dividend payout ratio is 39.34%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is currently owned by company insiders.

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.