Hosking Partners LLP Acquires 240,035 Shares of Occidental Petroleum Co. (NYSE:OXY)

Hosking Partners LLP lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 44.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 776,348 shares of the oil and gas producer’s stock after purchasing an additional 240,035 shares during the quarter. Occidental Petroleum accounts for approximately 1.5% of Hosking Partners LLP’s investment portfolio, making the stock its 21st biggest holding. Hosking Partners LLP owned 0.08% of Occidental Petroleum worth $38,359,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Certified Advisory Corp bought a new stake in Occidental Petroleum during the 4th quarter worth about $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum during the third quarter worth about $14,199,000. Stephens Inc. AR boosted its position in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares during the last quarter. Sarasin & Partners LLP grew its stake in Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after purchasing an additional 50,983 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $2,509,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $48.64 on Friday. The firm has a 50 day moving average of $49.42 and a 200-day moving average of $51.18. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $45.64 billion, a PE ratio of 19.93 and a beta of 1.55.

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

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. 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 payout ratio is currently 39.34%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OXY shares. Citigroup lowered their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Piper Sandler cut their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. UBS Group boosted their target price on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Mizuho decreased their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Three 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.com, the company currently has a consensus rating of “Hold” and an average target price of $61.55.

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.