Variant Private Wealth LLC Purchases New Holdings in Occidental Petroleum Co. (NYSE:OXY)

Variant Private Wealth LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,553 shares of the oil and gas producer’s stock, valued at approximately $521,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Leavell Investment Management Inc. boosted its position in Occidental Petroleum by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 200 shares during the period. Empire Financial Management Company LLC boosted its position in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares during the period. Park Avenue Securities LLC boosted its position in Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 shares during the period. Crossmark Global Holdings Inc. boosted its position in Occidental Petroleum by 0.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,566 shares of the oil and gas producer’s stock valued at $1,421,000 after buying an additional 257 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in Occidental Petroleum by 16.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,920 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 278 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OXY. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. TD Cowen lowered their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler lowered their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, Raymond James upped their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.90.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders purchased 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Down 3.2 %

Shares of Occidental Petroleum stock opened at $50.42 on Friday. The company has a market capitalization of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. 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 $45.17 and a 52-week high of $71.18. The company has a 50 day moving average of $49.20 and a 200 day moving average of $51.41.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during 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, research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 36.07%.

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.