Atala Financial Inc Makes New $40,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

Atala Financial Inc purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 817 shares of the oil and gas producer’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position 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. H&H International Investment LLC raised its stake 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 worth $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Occidental Petroleum by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock worth $209,349,000 after buying an additional 229,210 shares during the period. Cooke & Bieler LP boosted its position in Occidental Petroleum by 14.6% during the 4th 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. Finally, Scharf Investments LLC increased its holdings in shares of Occidental Petroleum by 48.7% in the 4th 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 during the period. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction on 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 acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 6,854,394 shares of company stock valued at $315,101,532. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Piper Sandler decreased their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Roth Capital set a $54.00 price objective on Occidental Petroleum in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $60.68.

Occidental Petroleum Price Performance

Shares of OXY opened at $46.58 on Friday. The company has a market capitalization of $43.71 billion, a P/E ratio of 19.09 and a beta of 1.51. The business’s 50-day moving average is $48.95 and its two-hundred day moving average is $50.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly 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. The company had revenue of $6.84 billion during 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%. Research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company 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 dividend of $0.24 per share. 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 (DPR) is currently 39.34%.

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.