Jump Financial LLC Makes New $18.35 Million Investment in Occidental Petroleum Co. (NYSE:OXY)

Jump Financial LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 371,454 shares of the oil and gas producer’s stock, valued at approximately $18,354,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 purchasing an additional 10,434,098 shares during the period. Invesco Ltd. grew its holdings in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after purchasing an additional 1,278,389 shares in the last quarter. Scharf Investments LLC raised its stake in Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares in the last quarter. Geode Capital Management LLC lifted its position in Occidental Petroleum by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer’s stock valued at $701,816,000 after purchasing an additional 398,467 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock worth $146,184,000 after buying an additional 377,952 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Up 0.6 %

Shares of NYSE OXY opened at $37.90 on Tuesday. The stock has a market capitalization of $35.62 billion, a price-to-earnings ratio of 15.53 and a beta of 1.02. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $69.44. 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 firm’s 50-day moving average price is $46.27 and its 200-day moving average price is $48.95.

Occidental Petroleum (NYSE:OXY) last announced its 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. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Raymond James lowered shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Stephens restated an “overweight” rating and issued a $71.00 target price on shares of Occidental Petroleum in a report on Wednesday, February 19th. 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 research report on Monday, December 16th. Finally, StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.71.

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.