Farley Capital L.P. Buys 3,985 Shares of Occidental Petroleum Co. (NYSE:OXY)

Farley Capital L.P. lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 48.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,155 shares of the oil and gas producer’s stock after purchasing an additional 3,985 shares during the quarter. Occidental Petroleum accounts for about 0.5% of Farley Capital L.P.’s holdings, making the stock its 12th largest position. Farley Capital L.P.’s holdings in Occidental Petroleum were worth $601,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 444,850 shares in the last quarter. H&H International Investment LLC grew its position in Occidental Petroleum by 497.7% during 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. increased its stake in Occidental Petroleum by 5.7% in the 4th 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 acquiring an additional 229,210 shares during the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of Occidental Petroleum by 14.6% in 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. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OXY. 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 research report on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Citigroup lowered their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Piper Sandler reduced their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, UBS Group upped their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.82.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $49.72 on Thursday. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. The stock’s 50 day simple moving average is $48.39 and its two-hundred day simple moving average is $49.91. 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 stock has a market cap of $46.67 billion, a price-to-earnings ratio of 20.38 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last released 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 for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal 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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.93%. 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. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.