Capricorn Fund Managers Ltd Invests $4.69 Million in Occidental Petroleum Co. (NYSE:OXY)

Capricorn Fund Managers Ltd purchased a new position in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 96,807 shares of the oil and gas producer’s stock, valued at approximately $4,691,000. Occidental Petroleum makes up about 2.1% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. Certified Advisory Corp bought a new position in shares of Occidental Petroleum during the fourth quarter worth $476,000. Rule One Partners LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $14,199,000. Stephens Inc. AR grew its position in shares of Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum in the third quarter worth about $2,509,000. Finally, Cerity Partners LLC raised its holdings in shares of Occidental Petroleum by 27.7% during the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock worth $3,638,000 after acquiring an additional 15,316 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 0.6 %

Shares of NYSE OXY opened at $51.98 on Tuesday. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The firm has a market cap of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57. The business has a fifty day simple moving average of $49.72 and a two-hundred day simple moving average of $53.32. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OXY shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Citigroup dropped their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Stephens increased their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler decreased their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Scotiabank cut their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.19.

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.