20,396 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,396 shares of the oil and gas producer’s stock, valued at approximately $1,008,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its position in Occidental Petroleum by 124.5% during the third quarter. Van ECK Associates Corp now owns 18,481 shares of the oil and gas producer’s stock worth $948,000 after acquiring an additional 10,248 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of Occidental Petroleum by 52.5% during the third quarter. Concurrent Investment Advisors LLC now owns 5,143 shares of the oil and gas producer’s stock worth $265,000 after purchasing an additional 1,770 shares during the period. Principal Financial Group Inc. raised its position in shares of Occidental Petroleum by 7.1% in the third quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer’s stock valued at $39,880,000 after buying an additional 51,042 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Occidental Petroleum by 14.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,028 shares of the oil and gas producer’s stock valued at $208,000 after buying an additional 514 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in Occidental Petroleum by 20.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 35,824 shares of the oil and gas producer’s stock worth $1,846,000 after acquiring an additional 6,081 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 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 approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $46.28 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.18. The firm has a market cap of $43.43 billion, a PE ratio of 18.97 and a beta of 1.51. The firm’s fifty day moving average is $49.18 and its 200-day moving average is $50.50.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $7.14 billion. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared 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 2.07%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent analyst reports. Citigroup cut their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Truist Financial increased their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. 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. Mizuho cut their price target 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, Stephens reissued an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $60.86.

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.