Loomis Sayles & Co. L P Purchases Shares of 1,509 Occidental Petroleum Co. (NYSE:OXY)

Loomis Sayles & Co. L P acquired a new position in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,509 shares of the oil and gas producer’s stock, valued at approximately $75,000.

A number of other hedge funds have also recently made changes to their positions in the stock. NEOS Investment Management LLC lifted its stake in Occidental Petroleum by 30.6% during the fourth quarter. NEOS Investment Management LLC now owns 37,156 shares of the oil and gas producer’s stock worth $1,836,000 after purchasing an additional 8,705 shares in the last quarter. Farley Capital L.P. lifted its stake in Occidental Petroleum by 48.8% during the 4th quarter. Farley Capital L.P. now owns 12,155 shares of the oil and gas producer’s stock worth $601,000 after acquiring an additional 3,985 shares in the last quarter. UniSuper Management Pty Ltd grew its position in Occidental Petroleum by 29.6% in the 4th quarter. UniSuper Management Pty Ltd now owns 63,049 shares of the oil and gas producer’s stock valued at $3,115,000 after acquiring an additional 14,415 shares in the last quarter. Sava Infond d.o.o. purchased a new stake in Occidental Petroleum during the fourth quarter worth about $198,000. Finally, Elo Mutual Pension Insurance Co lifted its position in shares of Occidental Petroleum by 4.8% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 74,244 shares of the oil and gas producer’s stock worth $3,668,000 after purchasing an additional 3,391 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.3 %

Shares of Occidental Petroleum stock opened at $48.84 on Monday. The company’s fifty day moving average is $48.28 and its two-hundred day moving average is $49.87. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market capitalization of $45.90 billion, a P/E ratio of 20.02 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued 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 return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value 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. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OXY shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Piper Sandler lowered their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their target price for the company from $54.00 to $45.00 in a report on Friday, January 31st. Citigroup decreased their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.82.

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.