NEOS Investment Management LLC Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

NEOS Investment Management LLC lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 30.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,156 shares of the oil and gas producer’s stock after purchasing an additional 8,705 shares during the period. NEOS Investment Management LLC’s holdings in Occidental Petroleum were worth $1,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OXY. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at $27,000. VSM Wealth Advisory LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth $27,000. Atala Financial Inc bought a new stake in Occidental Petroleum during the fourth quarter valued at about $40,000. Millstone Evans Group LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $42,000. Finally, M Holdings Securities Inc. bought a new position in Occidental Petroleum in the fourth quarter worth about $47,000. 88.70% of the stock is currently owned by institutional investors.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OXY shares. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. Citigroup cut their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Truist Financial increased their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $59.82.

Occidental Petroleum Price Performance

Shares of OXY opened at $48.84 on Friday. The business’s 50-day moving average is $48.28 and its two-hundred day moving average is $49.89. The company has a market capitalization of $45.90 billion, a P/E ratio of 20.02 and a beta of 1.51. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

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 for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.97%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

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.