Life Planning Partners Inc Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Life Planning Partners Inc bought a new position in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 30,051 shares of the oil and gas producer’s stock, valued at approximately $1,485,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. lifted its position in shares of Occidental Petroleum by 121.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 31,886 shares of the oil and gas producer’s stock valued at $1,575,000 after buying an additional 17,496 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in Occidental Petroleum by 120.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 2,121 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 1,159 shares in the last quarter. Allstate Corp purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth $942,000. DnB Asset Management AS raised its position in shares of Occidental Petroleum by 4.5% during the 4th quarter. DnB Asset Management AS now owns 127,433 shares of the oil and gas producer’s stock valued at $6,296,000 after purchasing an additional 5,500 shares during the period. Finally, New Age Alpha Advisors LLC lifted its stake in shares of Occidental Petroleum by 767.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 1,223 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 1,082 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on OXY. Mizuho decreased their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Citigroup lowered their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Finally, Piper Sandler dropped their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Three investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.82.

Occidental Petroleum Stock Down 1.3 %

Shares of OXY opened at $48.84 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.19. The company has a market cap of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51. The business has a fifty day moving average of $48.28 and a 200 day moving average of $49.87.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The company 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%. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s 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.