Prosperitas Financial LLC Invests $2.39 Million in Occidental Petroleum Co. (NYSE:OXY)

Prosperitas Financial LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, Holdings Channel.com reports. The firm acquired 48,316 shares of the oil and gas producer’s stock, valued at approximately $2,387,000.

Other large investors have also bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum in the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter worth about $50,000. Finally, Deseret Mutual Benefit Administrators raised its stake in shares of Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares during the period. 88.70% of the stock is owned by institutional investors.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of Occidental Petroleum stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the purchase, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $48.64 on Friday. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $49.42 and its 200 day simple moving average is $51.18. The firm has a market capitalization of $45.64 billion, a PE ratio of 19.93 and a beta of 1.55.

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

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OXY shares. Citigroup decreased their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Piper Sandler decreased their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Susquehanna lowered their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. UBS Group increased their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $61.55.

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.