Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 16.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000 shares of the oil and gas producer’s stock after purchasing an additional 280 shares during the quarter. Elkhorn Partners Limited Partnership’s holdings in Occidental Petroleum were worth $130,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OXY. Investment Research & Advisory Group Inc. increased its stake in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the period. Grove Bank & Trust grew its position in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $34,000. LifeSteps Financial Inc. acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at about $34,000. Finally, Able Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY traded up $0.09 during mid-day trading on Tuesday, hitting $60.27. The stock had a trading volume of 5,797,875 shares, compared to its average volume of 7,842,874. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The firm’s 50 day moving average is $61.45 and its 200 day moving average is $62.11. The stock has a market capitalization of $53.44 billion, a price-to-earnings ratio of 16.47 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. Occidental Petroleum’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Equities research analysts forecast that Occidental Petroleum Co. will post 3.66 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.46%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OXY. Citigroup reduced their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Susquehanna boosted their target price on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. HSBC initiated coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Finally, Mizuho raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.31.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 524,340 shares of Occidental Petroleum stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of $59.75 per share, with a total value of $31,329,315.00. Following the transaction, the insider now owns 248,542,468 shares in the company, valued at $14,850,412,463. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by insiders.

About Occidental Petroleum

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.