Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 57.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,635 shares of the oil and gas producer’s stock after buying an additional 6,466 shares during the quarter. Vinva Investment Management Ltd’s holdings in Occidental Petroleum were worth $855,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in OXY. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in Occidental Petroleum during the 4th quarter valued at about $40,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $50,000. Finally, Deseret Mutual Benefit Administrators grew its stake in Occidental Petroleum by 27.1% during 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 last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $47.99 on Friday. The business has a 50 day simple moving average of $48.68 and a two-hundred day simple moving average of $50.11. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19. The stock has a market capitalization of $45.04 billion, a P/E ratio of 19.67 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

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, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. As a group, analysts predict 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. Shareholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup dropped their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Truist Financial boosted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Stephens reiterated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Finally, Piper Sandler dropped their price target on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Three 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.45.

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.