Uniting Wealth Partners LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Uniting Wealth Partners LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, Holdings Channel reports. The fund bought 10,150 shares of the oil and gas producer’s stock, valued at approximately $502,000.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Atom Investors LP bought a new position in shares of Occidental Petroleum in the 3rd quarter worth $376,000. Benjamin Edwards Inc. acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $206,000. Hilltop Holdings Inc. raised its stake in shares of Occidental Petroleum by 49.4% in the third quarter. Hilltop Holdings Inc. now owns 5,591 shares of the oil and gas producer’s stock worth $288,000 after purchasing an additional 1,848 shares during the last quarter. Investment Management Corp of Ontario lifted its holdings in shares of Occidental Petroleum by 50.2% in the third quarter. Investment Management Corp of Ontario now owns 22,134 shares of the oil and gas producer’s stock valued at $1,141,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Occidental Petroleum by 2.6% during the third quarter. Quantinno Capital Management LP now owns 33,373 shares of the oil and gas producer’s stock valued at $1,720,000 after buying an additional 831 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Activity 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 stock was acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $49.34 on Thursday. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The business has a fifty day moving average price of $48.18 and a 200-day moving average price of $49.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a market capitalization of $46.37 billion, a P/E ratio of 20.22 and a beta of 1.51.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The firm 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%. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.95%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group lifted their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Mizuho dropped their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an “overweight” rating in a report on Wednesday, March 26th. Finally, Stephens reissued an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Three investment 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’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $59.82.

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.