Life Planning Partners Inc Invests $1.49 Million in Occidental Petroleum Co. (NYSE:OXY)

Life Planning Partners Inc acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 30,051 shares of the oil and gas producer’s stock, valued at approximately $1,485,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC grew its stake in Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the last quarter. H&H International Investment LLC raised its holdings in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock valued at $209,349,000 after buying an additional 229,210 shares during the last quarter. Finally, Cooke & Bieler LP grew its position in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock worth $146,184,000 after buying an additional 377,952 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 1.3 %

Shares of OXY opened at $48.84 on Friday. The stock’s 50-day moving average price is $48.28 and its 200-day moving average price is $49.87. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $45.90 billion, a price-to-earnings ratio of 20.02 and a beta of 1.51. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.19.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the company from $54.00 to $45.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Piper Sandler reduced their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Citigroup lowered their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Finally, Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $59.82.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were 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 of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction 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.

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.