LRI Investments LLC Takes $51,000 Position in Occidental Petroleum Co. (NYSE:OXY)

LRI Investments LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 807 shares of the oil and gas producer’s stock, valued at approximately $51,000.

Other large investors have also modified their holdings of the company. Berkshire Hathaway Inc boosted its holdings in Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. Clean Energy Transition LLP purchased a new position in Occidental Petroleum during the 1st quarter valued at about $67,601,000. ANTIPODES PARTNERS Ltd boosted its holdings in Occidental Petroleum by 51.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after acquiring an additional 797,894 shares during the period. TD Asset Management Inc boosted its holdings in Occidental Petroleum by 237.9% during the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after acquiring an additional 532,847 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in Occidental Petroleum by 52.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock valued at $83,568,000 after acquiring an additional 483,422 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY traded up $0.01 during trading on Friday, hitting $60.54. 5,189,137 shares of the stock were exchanged, compared to its average volume of 6,353,382. The firm has a market capitalization of $53.68 billion, a P/E ratio of 16.54 and a beta of 1.61. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The stock has a fifty day moving average price of $61.58 and a two-hundred day moving average price of $62.03. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The firm’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is currently 24.04%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 765,899 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the acquisition, the insider now owns 252,333,913 shares in the company, valued at approximately $15,210,688,275.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 4,656,747 shares of company stock valued at $278,664,028. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research assumed coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. HSBC assumed coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Susquehanna lifted their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Barclays assumed coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.31.

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.