AMF Tjanstepension AB Acquires Shares of 15,104 Occidental Petroleum Co. (NYSE:OXY)

AMF Tjanstepension AB bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,104 shares of the oil and gas producer’s stock, valued at approximately $747,000.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the third quarter worth $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum during the third quarter worth $50,000. Deseret Mutual Benefit Administrators lifted its position in shares of Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth $59,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 3.4 %

Shares of NYSE:OXY opened at $47.26 on Friday. The stock’s 50-day moving average price is $49.27 and its 200-day moving average price is $50.68. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.18. The stock has a market capitalization of $44.35 billion, a P/E ratio of 19.37 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.

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

Occidental Petroleum Increases Dividend

The firm 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 $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OXY. Raymond James increased their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Roth Capital set a $54.00 price objective on Occidental Petroleum in a research report on Thursday, January 23rd. Susquehanna lowered their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $61.50.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, 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 filing with the SEC, which is available at this link. Insiders have acquired 6,854,394 shares of company stock valued at $315,101,532 over the last ninety days. 0.31% of the stock is owned by insiders.

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.