TT Capital Management LLC Buys Shares of 10,880 Occidental Petroleum Co. (NYSE:OXY)

TT Capital Management LLC purchased a new position in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,880 shares of the oil and gas producer’s stock, valued at approximately $557,000.

A number of other institutional investors also recently modified their holdings of the company. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at $27,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $40,000. Millstone Evans Group LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $42,000. Finally, M Holdings Securities Inc. bought a new stake in Occidental Petroleum in the fourth quarter worth approximately $47,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 3.3 %

NYSE:OXY opened at $37.68 on Friday. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $71.19. The firm has a 50-day moving average price of $46.46 and a two-hundred day moving average price of $49.05. The firm has a market cap of $35.41 billion, a price-to-earnings ratio of 15.44 and a beta of 1.02. 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 (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for 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%. On average, equities analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.55%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OXY shares. Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Mizuho decreased their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. 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 report on Monday, January 13th. Scotiabank lowered Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price for the company. in a research report on Friday. Finally, TD Cowen lowered Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price target for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.71.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value 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. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.