Pring Turner Capital Group Inc. Purchases 3,935 Shares of Occidental Petroleum Co. (NYSE:OXY)

Pring Turner Capital Group Inc. increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.7% in the fourth quarter, HoldingsChannel reports. The firm owned 73,354 shares of the oil and gas producer’s stock after buying an additional 3,935 shares during the period. Occidental Petroleum makes up 2.4% of Pring Turner Capital Group Inc.’s portfolio, making the stock its 20th largest position. Pring Turner Capital Group Inc.’s holdings in Occidental Petroleum were worth $3,624,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares during the last quarter. H&H International Investment LLC boosted its position in Occidental Petroleum by 497.7% during 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after purchasing an additional 98,703 shares during the last quarter. Scharf Investments LLC raised its position in shares of Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after buying an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

NYSE OXY opened at $49.87 on Tuesday. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The firm has a market capitalization of $46.80 billion, a price-to-earnings ratio of 20.44 and a beta of 1.55. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm’s 50 day simple moving average is $49.26 and its 200 day simple moving average is $51.28.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. As a group, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.93%. Occidental Petroleum’s payout ratio is presently 39.34%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OXY shares. Citigroup decreased their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Raymond James lifted their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Truist Financial upped their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, TD Cowen dropped their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued 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 an average price target of $61.55.

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.