Carret Asset Management LLC increased its position in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 75.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,028 shares of the oil and gas producer’s stock after buying an additional 6,447 shares during the quarter. Carret Asset Management LLC’s holdings in Occidental Petroleum were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in OXY. H&H International Investment LLC boosted its holdings in 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 valued at $475,389,000 after acquiring an additional 7,680,598 shares in the last quarter. Scharf Investments LLC boosted its holdings in 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 acquiring an additional 805,525 shares in the last quarter. Anson Funds Management LP boosted its holdings in 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 valued at $39,453,000 after acquiring an additional 745,050 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 valued at $710,886,000 after acquiring an additional 444,850 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in Occidental Petroleum by 14.6% in the fourth quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock valued at $146,184,000 after acquiring an additional 377,952 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This 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 this link. In the last 90 days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.48% of the stock is owned by insiders.
Analyst Ratings Changes
Check Out Our Latest Analysis on OXY
Occidental Petroleum Price Performance
OXY opened at $46.58 on Friday. The stock has a 50-day moving average price of $48.95 and a 200-day moving average price of $50.36. 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 cap of $43.71 billion, a PE ratio of 19.09 and a beta of 1.51. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18.
Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping 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 business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Sell-side analysts predict 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 given a $0.24 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 2.06%. Occidental Petroleum’s payout ratio is 39.34%.
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.
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