Berkshire Asset Management LLC PA Buys Shares of 7,226 Occidental Petroleum Co. (NYSE:OXY)

Berkshire Asset Management LLC PA bought a new position in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,226 shares of the oil and gas producer’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $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 boosted its position in 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 valued at $58,000 after purchasing an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 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 company insiders.

Analysts Set New Price Targets

OXY has been the subject of a number of recent research reports. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Raymond James increased their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Citigroup reduced 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. Finally, StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Three 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 company’s stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $61.50.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $47.26 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market cap of $44.35 billion, a PE ratio of 19.37 and a beta of 1.51. The firm has a fifty day moving average price of $49.27 and a two-hundred day moving average price of $50.72. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.18.

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

Occidental Petroleum Increases Dividend

The company 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Occidental Petroleum 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.