WealthPlan Investment Management LLC Acquires New Shares in Occidental Petroleum Co. (NYSE:OXY)

WealthPlan Investment Management LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,128 shares of the oil and gas producer’s stock, valued at approximately $200,000.

Other institutional investors have also recently bought and sold shares of the company. Hahn Capital Management LLC lifted its position in shares of Occidental Petroleum by 4.1% in the third quarter. Hahn Capital Management LLC now owns 131,904 shares of the oil and gas producer’s stock worth $8,106,000 after buying an additional 5,150 shares during the last quarter. Centaurus Financial Inc. lifted its position in shares of Occidental Petroleum by 801.9% in the third quarter. Centaurus Financial Inc. now owns 18,147 shares of the oil and gas producer’s stock worth $1,115,000 after buying an additional 16,135 shares during the last quarter. Toroso Investments LLC lifted its position in shares of Occidental Petroleum by 8.5% in the third quarter. Toroso Investments LLC now owns 67,492 shares of the oil and gas producer’s stock worth $4,147,000 after buying an additional 5,269 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Occidental Petroleum by 117.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 15,218 shares of the oil and gas producer’s stock worth $936,000 after buying an additional 8,205 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Occidental Petroleum in the third quarter worth about $4,648,000. Institutional investors and hedge funds own 78.45% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of analyst reports. Piper Sandler reduced their price target on Occidental Petroleum from $76.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, December 19th. The Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, February 14th. Morgan Stanley dropped their price objective on Occidental Petroleum from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 24th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 1st. Finally, Roth Capital reiterated a “neutral” rating on shares of Occidental Petroleum in a research note on Monday, February 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.17.

Occidental Petroleum Trading Down 0.9 %

OXY stock opened at $58.48 on Friday. Occidental Petroleum Co. has a 1-year low of $51.53 and a 1-year high of $77.13. The firm has a market cap of $52.64 billion, a P/E ratio of 4.72, a P/E/G ratio of 0.45 and a beta of 1.77. The business’s 50 day moving average is $62.53 and its 200-day moving average is $65.40. The company has a current ratio of 1.15, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97.

Occidental Petroleum (NYSE:OXY – Get Rating) last released its quarterly earnings data on Monday, February 27th. The oil and gas producer reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.22). Occidental Petroleum had a net margin of 35.87% and a return on equity of 52.68%. The company had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 97.6% on a year-over-year basis. Equities analysts anticipate that Occidental Petroleum Co. will post 6.2 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 10th will be paid a $0.18 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 9th. Occidental Petroleum’s dividend payout ratio is currently 5.82%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,145,896 shares of Occidental Petroleum stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $59.17 per share, with a total value of $186,142,666.32. Following the acquisition, the insider now directly owns 203,299,337 shares of the company’s stock, valued at $12,029,221,770.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 8,705,002 shares of company stock worth $519,305,954. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Company Profile

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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.