Generali Investments Management Co LLC Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Generali Investments Management Co LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,616 shares of the oil and gas producer’s stock, valued at approximately $1,266,000.

Other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $27,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum in the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new position in Occidental Petroleum in the 4th quarter worth approximately $40,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $50,000. Finally, Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 248 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $47.66 on Wednesday. The company’s fifty day moving average is $48.80 and its two-hundred day moving average is $50.14. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.19. The company has a market cap of $44.73 billion, a P/E ratio of 19.53 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last announced its 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 the consensus estimate of $7.14 billion. Equities analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase 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 2.01%. Occidental Petroleum’s dividend payout ratio is 39.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial increased their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Roth Capital set a $54.00 target price on Occidental Petroleum in a research report on Thursday, January 23rd. Piper Sandler cut their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.45.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company 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.