5,000 Shares in Occidental Petroleum Co. (NYSE:OXY) Bought by Rahlfs Capital LLC

Rahlfs Capital LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the oil and gas producer’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after buying an additional 10,434,098 shares during the last quarter. Scharf Investments LLC boosted its position in Occidental Petroleum by 48.7% in the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after purchasing an additional 805,525 shares in the last quarter. Anson Funds Management LP grew its stake in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the period. Geode Capital Management LLC grew its stake in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after purchasing an additional 444,850 shares during the period. Finally, Cooke & Bieler LP increased its holdings in shares of Occidental Petroleum by 14.6% during the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock valued at $146,184,000 after purchasing an additional 377,952 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 7.4 %

OXY opened at $40.65 on Friday. The stock has a market capitalization of $38.20 billion, a PE ratio of 16.66 and a beta of 1.51. Occidental Petroleum Co. has a one year low of $39.60 and a one 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 business’s 50 day moving average price is $47.88 and its 200 day moving average price is $49.73.

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

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was acquired at an average price 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 in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. 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 equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.82.

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.