Capital Square LLC Makes New $295,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

Capital Square LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,980 shares of the oil and gas producer’s stock, valued at approximately $295,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Occidental Petroleum by 18.1% during 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 in the last quarter. Marshall Wace LLP lifted its holdings in Occidental Petroleum by 48.1% in the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock valued at $203,459,000 after purchasing an additional 1,337,728 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Occidental Petroleum by 25.2% during the 4th 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 during the last quarter. Scharf Investments LLC grew its holdings in shares of Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after buying an additional 805,525 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Occidental Petroleum by 2.9% in 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 buying an additional 398,467 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on OXY shares. Citigroup lowered their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Stephens dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, UBS Group lowered their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $55.81.

Insider Activity 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, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $38.47 on Thursday. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $68.43. The stock has a market cap of $36.15 billion, a P/E ratio of 15.77 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a 50-day moving average of $45.92 and a two-hundred day moving average of $48.80.

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 analysts’ consensus estimates of $0.67 by $0.13. The company 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, research 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 was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were given a dividend of $0.24 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.50%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

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.