Lane Generational LLC Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Lane Generational LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,757 shares of the oil and gas producer’s stock after buying an additional 7,179 shares during the period. Occidental Petroleum comprises about 4.4% of Lane Generational LLC’s holdings, making the stock its 11th largest position. Lane Generational LLC’s holdings in Occidental Petroleum were worth $4,484,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in OXY. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum in the 3rd quarter worth approximately $50,000. Deseret Mutual Benefit Administrators grew its position in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after acquiring an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $59,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the transaction, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 6,854,394 shares of company stock worth $315,101,532. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $46.28 on Wednesday. The business has a 50 day simple moving average of $49.18 and a 200 day simple moving average of $50.50. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.18. The stock has a market cap of $43.43 billion, a price-to-earnings ratio of 18.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

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 analysts’ expectations of $7.14 billion. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.07%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research reports. Piper Sandler decreased their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Wolfe Research upped their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and issued a $71.00 target price on shares of Occidental Petroleum in a report on Wednesday, February 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.86.

Occidental Petroleum Company 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.