AMF Tjanstepension AB Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

AMF Tjanstepension AB acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,104 shares of the oil and gas producer’s stock, valued at approximately $747,000.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $771,000. Banco Santander S.A. purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $1,023,000. Berkshire Asset Management LLC PA purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $356,000. Edgestream Partners L.P. purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $1,008,000. Finally, Callan Family Office LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $1,966,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Up 3.4 %

NYSE:OXY opened at $47.26 on Friday. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The company has a 50 day simple moving average of $49.27 and a two-hundred day simple moving average of $50.68. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $44.35 billion, a PE ratio of 19.37 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (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. Research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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 is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. Occidental Petroleum’s payout ratio is presently 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 6,854,394 shares of company stock valued at $315,101,532 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OXY. Citigroup lowered their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Mizuho lowered their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. UBS Group boosted their price objective 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, Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.50.

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.