20,396 Shares in Occidental Petroleum Co. (NYSE:OXY) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 20,396 shares of the oil and gas producer’s stock, valued at approximately $1,008,000.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at $50,000. Deseret Mutual Benefit Administrators boosted its position in shares of Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $59,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. UBS Group raised their target price on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Piper Sandler decreased their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Susquehanna lowered their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a report on Thursday, January 23rd. Finally, Citigroup dropped their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.86.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $46.28 on Wednesday. The firm has a market cap of $43.43 billion, a PE ratio of 18.97 and a beta of 1.51. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The company’s fifty day simple moving average is $49.18 and its 200-day simple moving average is $50.50. 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 (NYSE:OXY) last announced its quarterly earnings data 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 company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 6,854,394 shares of company stock valued at $315,101,532 over the last three months. Insiders own 0.31% of the company’s stock.

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.