Proficio Capital Partners LLC Buys Shares of 128,244 Occidental Petroleum Co. (NYSE:OXY)

Proficio Capital Partners LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, HoldingsChannel.com reports. The firm bought 128,244 shares of the oil and gas producer’s stock, valued at approximately $6,337,000.

Other large investors also recently added to or reduced their stakes in the company. H&H International Investment LLC increased its stake in shares of 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 acquiring an additional 7,680,598 shares during the last quarter. Scharf Investments LLC increased its stake 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 worth $121,600,000 after acquiring an additional 805,525 shares during the last quarter. Anson Funds Management LP increased its stake in shares of Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after acquiring an additional 745,050 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 worth $710,886,000 after acquiring an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Occidental Petroleum in the third quarter worth $18,554,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of 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 trade represents a 0.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Stock Up 2.5 %

NYSE OXY opened at $46.58 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a 50-day simple moving average of $48.95 and a 200 day simple moving average of $50.27. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.18. The stock has a market cap of $43.71 billion, a PE ratio of 19.09 and a beta of 1.51.

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

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research reports. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Truist Financial upped their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Raymond James cut shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Finally, UBS Group upped 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. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $60.68.

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.