Ellerson Group Inc. ADV Makes New $3.43 Million Investment in Occidental Petroleum Co. (NYSE:OXY)

Ellerson Group Inc. ADV purchased a new position in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 69,496 shares of the oil and gas producer’s stock, valued at approximately $3,434,000. Occidental Petroleum accounts for approximately 2.5% of Ellerson Group Inc. ADV’s investment portfolio, making the stock its 14th biggest position.

Other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at about $27,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum during the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the third quarter valued at about $50,000. Deseret Mutual Benefit Administrators grew its holdings 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 valued at $58,000 after buying an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at about $59,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 6,854,394 shares of company stock worth $315,101,532 in the last quarter. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $47.26 on Friday. The firm’s 50-day moving average price is $49.27 and its 200-day moving average price is $50.68. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market cap of $44.35 billion, a PE ratio of 19.37 and a beta of 1.51. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results 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. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Piper Sandler dropped their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday. Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a research report on Thursday, January 23rd. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Wolfe Research lifted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.50.

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.