Berger Financial Group Inc Acquires 451 Shares of Occidental Petroleum Co. (NYSE:OXY)

Berger Financial Group Inc grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,129 shares of the oil and gas producer’s stock after acquiring an additional 451 shares during the period. Berger Financial Group Inc’s holdings in Occidental Petroleum were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OXY. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $40,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $42,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.4 %

Shares of NYSE:OXY opened at $40.51 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.76 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 has a 50-day moving average price of $44.53 and a 200 day moving average price of $47.93. The company has a market cap of $38.07 billion, a price-to-earnings ratio of 16.60 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 10th were given a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Monday, March 10th. Occidental Petroleum’s dividend payout ratio is 39.34%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OXY. Stephens lowered their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Citigroup lowered their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Piper Sandler lowered their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Hsbc Global Res upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Finally, Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.19.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction that occurred 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 transaction, the insider now directly 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 filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

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.