Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 20.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,458 shares of the oil and gas producer’s stock after purchasing an additional 940 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Occidental Petroleum were worth $355,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in OXY. Berkshire Hathaway Inc grew its stake in Occidental Petroleum by 8.7% during the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after buying an additional 19,586,612 shares during the period. Clean Energy Transition LLP purchased a new stake in shares of Occidental Petroleum in the first quarter worth about $67,601,000. ANTIPODES PARTNERS Ltd raised its holdings in shares of Occidental Petroleum by 51.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after buying an additional 797,894 shares during the period. TD Asset Management Inc boosted its holdings in Occidental Petroleum by 237.9% in the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after acquiring an additional 532,847 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Occidental Petroleum by 52.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock valued at $83,568,000 after acquiring an additional 483,422 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the transaction, the insider now owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders acquired 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

NYSE:OXY traded up $0.01 during mid-day trading on Friday, hitting $60.54. The stock had a trading volume of 5,189,137 shares, compared to its average volume of 6,353,382. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $61.58 and a 200-day simple moving average of $62.03. The stock has a market capitalization of $53.68 billion, a price-to-earnings ratio of 16.54 and a beta of 1.61. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. On average, research analysts expect that Occidental Petroleum Co. will post 3.66 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Citigroup decreased their target price on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target for the company. HSBC began coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Barclays began coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Finally, Scotiabank reduced their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.31.

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.