AXQ Capital LP Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

AXQ Capital LP purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, HoldingsChannel reports. The firm purchased 10,973 shares of the oil and gas producer’s stock, valued at approximately $542,000.

Other institutional investors have also made changes to their positions in the company. Prospera Financial Services Inc increased its position in Occidental Petroleum by 22.5% in the 3rd quarter. Prospera Financial Services Inc now owns 9,160 shares of the oil and gas producer’s stock worth $472,000 after buying an additional 1,685 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Occidental Petroleum in the third quarter worth $685,000. Commerce Bank increased its position in Occidental Petroleum by 4.1% during the third quarter. Commerce Bank now owns 30,246 shares of the oil and gas producer’s stock worth $1,559,000 after acquiring an additional 1,181 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Occidental Petroleum during the 3rd quarter valued at $874,000. Finally, Advisors Asset Management Inc. boosted its holdings in Occidental Petroleum by 10.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 42,508 shares of the oil and gas producer’s stock valued at $2,191,000 after purchasing an additional 4,174 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 0.3 %

Shares of OXY opened at $48.11 on Friday. The stock has a fifty day moving average price of $48.61 and a two-hundred day moving average price of $50.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market cap of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.19.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. JPMorgan Chase & Co. cut 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. Piper Sandler decreased their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, UBS Group lifted their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.45.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

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.