Kennondale Capital Management LLC Purchases Shares of 16,019 Occidental Petroleum Co. (NYSE:OXY)

Kennondale Capital Management LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,019 shares of the oil and gas producer’s stock, valued at approximately $791,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators lifted its position in shares of 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 buying an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research report on Thursday, January 23rd. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Citigroup dropped their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday. UBS Group lifted their price target on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.45.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Trading Up 1.7 %

Shares of OXY opened at $47.31 on Tuesday. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.19. The business’s fifty day moving average is $48.88 and its 200-day moving average is $50.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of 19.39 and a beta of 1.51.

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

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

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.