Corebridge Financial Inc. Has $9.39 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Corebridge Financial Inc. lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,986 shares of the oil and gas producer’s stock after acquiring an additional 3,691 shares during the quarter. Corebridge Financial Inc.’s holdings in Occidental Petroleum were worth $9,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $40,000. Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $42,000. Finally, M Holdings Securities Inc. bought a new position in shares of Occidental Petroleum during the fourth quarter worth about $47,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $49.72 on Thursday. The business has a 50 day moving average of $48.39 and a 200-day moving average of $49.91. The firm has a market cap of $46.67 billion, a PE ratio of 20.38 and a beta of 1.51. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.19. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its 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. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.93%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s 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 the business’s stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OXY has been the topic of several analyst reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Stephens reissued an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Mizuho cut their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Three research 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’s stock. According to data from MarketBeat.com, Occidental Petroleum currently 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.