Murphy Pohlad Asset Management LLC Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Murphy Pohlad Asset Management LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 88.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,700 shares of the oil and gas producer’s stock after purchasing an additional 10,200 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Occidental Petroleum were worth $1,072,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in OXY. AQR Capital Management LLC raised its position in Occidental Petroleum by 11.5% during the 2nd quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock worth $5,077,000 after buying an additional 8,327 shares during the last quarter. Ascent Group LLC lifted its position in Occidental Petroleum by 4.7% in the second quarter. Ascent Group LLC now owns 8,067 shares of the oil and gas producer’s stock valued at $508,000 after purchasing an additional 365 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Occidental Petroleum during the 2nd quarter worth approximately $110,000. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Occidental Petroleum by 300,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 6,002 shares of the oil and gas producer’s stock valued at $378,000 after buying an additional 6,000 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new position in Occidental Petroleum during the second quarter worth $418,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on OXY shares. Jefferies Financial Group increased 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 lowered their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Raymond James boosted their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Truist Financial increased their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Wolfe Research upped their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Trading Down 0.2 %

Shares of OXY opened at $48.91 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The stock has a market cap of $45.89 billion, a PE ratio of 12.74 and a beta of 1.57. The stock’s 50-day moving average is $49.63 and its two-hundred day moving average is $52.84.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.