Samalin Investment Counsel LLC Purchases 2,444 Shares of Occidental Petroleum Co. (NYSE:OXY)

Samalin Investment Counsel LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,644 shares of the oil and gas producer’s stock after acquiring an additional 2,444 shares during the period. Samalin Investment Counsel LLC’s holdings in Occidental Petroleum were worth $674,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. M Holdings Securities Inc. bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $47,000. KLP Kapitalforvaltning AS bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $8,825,000. AXQ Capital LP bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $542,000. Mizuho Securities USA LLC boosted its holdings in shares of Occidental Petroleum by 46.7% during the 4th quarter. Mizuho Securities USA LLC now owns 64,032 shares of the oil and gas producer’s stock worth $3,164,000 after buying an additional 20,370 shares during the period. Finally, Sciencast Management LP bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $1,533,000. Institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $48.11 on Friday. The company has a 50 day simple moving average of $48.61 and a 200 day simple moving average of $50.01. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

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

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 2.00%. 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 payout ratio is presently 39.34%.

Analyst Ratings Changes

Several analysts recently commented on OXY shares. Piper Sandler reduced their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. UBS Group boosted their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $60.45.

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.