Occidental Petroleum Co. (NYSE:OXY) Stake Boosted by Financial Partners Group LLC

Financial Partners Group LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,628 shares of the oil and gas producer’s stock after acquiring an additional 1,132 shares during the period. Occidental Petroleum comprises approximately 2.4% of Financial Partners Group LLC’s portfolio, making the stock its 15th biggest holding. Financial Partners Group LLC’s holdings in Occidental Petroleum were worth $6,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. lifted its holdings in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 167 shares during the last quarter. Grove Bank & Trust lifted its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $34,000. Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at $34,000. Finally, Able Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday. Stephens restated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday. Truist Financial reduced their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research note on Monday. Finally, Scotiabank lowered their price target on 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.94.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the transaction, the insider now directly owns 248,542,468 shares in the company, valued at $14,850,412,463. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 4,656,747 shares of company stock valued at $278,664,028 over the last 90 days. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Price Performance

NYSE:OXY traded up $0.57 during mid-day trading on Monday, reaching $58.98. 6,513,263 shares of the company were exchanged, compared to its average volume of 7,980,236. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The stock has a market cap of $52.29 billion, a PE ratio of 16.11 and a beta of 1.61. Occidental Petroleum Co. has a 12 month low of $55.04 and a 12 month high of $71.18. The company has a fifty day moving average of $60.77 and a 200 day moving average of $62.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business earned $0.68 earnings per share. Occidental Petroleum’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.6 EPS 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. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.49%. Occidental Petroleum’s payout ratio is currently 24.04%.

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.