Twin Capital Management Inc. Has $1.08 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Twin Capital Management Inc. grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 142.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,748 shares of the oil and gas producer’s stock after buying an additional 12,794 shares during the quarter. Twin Capital Management Inc.’s holdings in Occidental Petroleum were worth $1,075,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OXY. Benjamin Edwards Inc. acquired a new position in Occidental Petroleum during the third quarter valued at approximately $206,000. Quantinno Capital Management LP grew its stake in Occidental Petroleum by 2.6% in the 3rd quarter. Quantinno Capital Management LP now owns 33,373 shares of the oil and gas producer’s stock valued at $1,720,000 after buying an additional 831 shares during the last quarter. Wellington Management Group LLP raised its holdings in Occidental Petroleum by 8.3% in the 3rd quarter. Wellington Management Group LLP now owns 103,072 shares of the oil and gas producer’s stock worth $5,312,000 after acquiring an additional 7,882 shares during the period. Kovitz Investment Group Partners LLC lifted its position in Occidental Petroleum by 235.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 110,705 shares of the oil and gas producer’s stock worth $5,301,000 after acquiring an additional 77,669 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Occidental Petroleum by 263.1% during the third quarter. EP Wealth Advisors LLC now owns 12,655 shares of the oil and gas producer’s stock valued at $652,000 after acquiring an additional 9,170 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OXY. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Citigroup reduced their price objective on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Piper Sandler dropped their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Finally, UBS Group cut their price objective on shares of Occidental Petroleum from $52.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $59.27.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

NYSE OXY opened at $38.70 on Tuesday. The firm has a market cap of $36.37 billion, a price-to-earnings ratio of 15.86 and a beta of 1.02. 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 1-year low of $37.67 and a 1-year high of $71.19. The company has a 50 day moving average of $47.66 and a 200-day moving average of $49.60.

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 the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

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.