Sava Infond d.o.o. Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Sava Infond d.o.o. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, Holdings Channel reports. The firm purchased 4,000 shares of the oil and gas producer’s stock, valued at approximately $198,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum during the fourth quarter worth about $40,000. Millstone Evans Group LLC bought a new position in Occidental Petroleum in the 4th quarter valued at about $42,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $47,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $49.47 on Friday. The company has a market cap of $46.49 billion, a P/E ratio of 20.28 and a beta of 1.51. 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 business has a 50-day moving average price of $48.34 and a two-hundred day moving average price of $49.91. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.19.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.94%. Occidental Petroleum’s dividend payout ratio is currently 39.34%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the company from $54.00 to $45.00 in a research report on Friday, January 31st. UBS Group raised their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Truist Financial increased their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.82.

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.