Occidental Petroleum Co. (NYSE:OXY) Stake Raised by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,825 shares of the oil and gas producer’s stock after buying an additional 1,766 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Occidental Petroleum were worth $387,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 in the last quarter. Geode Capital Management LLC lifted its holdings in 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 worth $701,816,000 after purchasing an additional 398,467 shares during the period. Invesco Ltd. grew its position in Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock valued at $314,133,000 after buying an additional 1,278,389 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Occidental Petroleum by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock valued at $209,349,000 after buying an additional 229,210 shares during the period. Finally, Cooke & Bieler LP lifted its stake 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 acquiring an additional 377,952 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value 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 approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 3.3 %

Occidental Petroleum stock opened at $39.72 on Friday. 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 Co. has a 12 month low of $34.79 and a 12 month high of $68.43. The company’s fifty day simple moving average is $45.75 and its 200-day simple moving average is $48.72. The stock has a market cap of $37.33 billion, a P/E ratio of 16.28 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. Occidental Petroleum’s payout ratio is 39.34%.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research analyst reports. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Scotiabank cut 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 note on Friday, April 11th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Finally, Truist Financial lifted their price target 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. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.81.

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.