Freestone Capital Holdings LLC Buys 2,621 Shares of Occidental Petroleum Co. (NYSE:OXY)

Freestone Capital Holdings LLC raised its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 57.0% during the 4th quarter, HoldingsChannel reports. The firm owned 7,217 shares of the oil and gas producer’s stock after purchasing an additional 2,621 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Occidental Petroleum were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of OXY. H&H International Investment LLC raised its holdings in Occidental Petroleum by 497.7% in the 3rd 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 period. 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 purchasing an additional 805,525 shares during the period. Anson Funds Management LP lifted its position in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 valued at $710,886,000 after purchasing an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $18,554,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of several research reports. Raymond James increased their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho reduced their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $61.50.

Occidental Petroleum Trading Up 3.4 %

Shares of OXY stock opened at $47.26 on Friday. 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 $44.35 billion, a P/E ratio of 19.37 and a beta of 1.55. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.18. The firm has a 50-day moving average price of $49.27 and a 200 day moving average price of $50.72.

Occidental Petroleum (NYSE:OXY) last announced its earnings results 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. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Research analysts forecast 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. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The acquisition 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 ninety days. 0.31% of the stock is owned by insiders.

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.