Carret Asset Management LLC Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Carret Asset Management LLC increased its position in Occidental Petroleum Co. (NYSE:OXY) 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

Several analysts recently weighed in on the stock. Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup cut their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.68.

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) 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.