Chapin Davis Inc. Takes Position in Occidental Petroleum Co ... - MarketBeat
Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Paragon Wealth Strategies LLC - MarketBeat
Paragon Wealth Strategies LLC lifted its stake in Occidental Petroleum Co. ( NYSE:OXY- Get Rating) by 6,538.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,726 shares of the oil and gas producer's stock after buying an additional 1,700 shares during the period. Paragon Wealth Strategies LLC's holdings in Occidental Petroleum were worth $109,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ironwood Wealth Management LLC. acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $334,000. Cibc World Market Inc. increased its stake in shares of Occidental Petroleum by 47.2% in the first quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer's stock worth $3,160,000 after buying an additional 17,859 shares during the last quarter. Prudential PLC bought a new position in Occidental Petroleum during the 1st quarter valued at $1,124,000. Sequoia Financial Advisors LLC acquired a new position in Occidental Petroleum during the 1st quarter worth $313,000. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Occidental Petroleum by 12.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer's stock valued at $3,094,000 after purchasing an additional 6,018 shares in the last quarter. Hedge funds and other institutional investors own 78.45% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on OXY. StockNews.com began coverage on Occidental Petroleum in a research note on Thursday, March 16th. They set a "hold" rating on the stock. Piper Sandler lowered their target price on shares of Occidental Petroleum from $76.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, December 19th. Evercore ISI downgraded shares of Occidental Petroleum from an "in-line" rating to an "underperform" rating and reduced their price target for the stock from $74.00 to $60.00 in a research report on Wednesday, February 22nd. Mizuho lifted their price target on shares of Occidental Petroleum from $82.00 to $83.00 in a report on Friday, March 10th. Finally, Morgan Stanley dropped their price objective on shares of Occidental Petroleum from $71.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Monday, March 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $74.72.
Occidental Petroleum Price Performance
Shares of NYSE OXY traded down $1.53 during mid-day trading on Friday, reaching $63.04. 10,480,902 shares of the company traded hands, compared to its average volume of 16,510,152. Occidental Petroleum Co. has a fifty-two week low of $51.53 and a fifty-two week high of $77.13. The firm has a market cap of $56.62 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 0.49 and a beta of 1.78. The stock has a fifty day simple moving average of $61.42 and a 200-day simple moving average of $64.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.15 and a quick ratio of 0.88.
Occidental Petroleum ( NYSE:OXY- Get Rating) last issued its quarterly earnings results on Monday, February 27th. The oil and gas producer reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.22). The firm had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.21 billion. Occidental Petroleum had a net margin of 35.87% and a return on equity of 52.68%. The firm's revenue for the quarter was up 97.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. Equities research analysts anticipate that Occidental Petroleum Co. will post 5.79 EPS for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 10th will be issued a $0.18 dividend. The ex-dividend date is Thursday, March 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.13. Occidental Petroleum's dividend payout ratio is currently 5.82%.
Insider Activity
In related news, major shareholder Berkshire Hathaway Inc bought 1,518,001 shares of the firm's stock in a transaction that occurred on Wednesday, March 15th. The shares were acquired at an average cost of $56.70 per share, for a total transaction of $86,070,656.70. Following the acquisition, the insider now directly owns 208,040,405 shares of the company's stock, valued at approximately $11,795,890,963.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders purchased 12,371,716 shares of company stock worth $735,557,715. Insiders own 0.31% of the company's stock.
Occidental Petroleum Profile
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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
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