Thrivent Financial for Lutherans Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Thrivent Financial for Lutherans increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,688 shares of the oil and gas producer’s stock after buying an additional 976 shares during the period. Thrivent Financial for Lutherans’ holdings in Occidental Petroleum were worth $2,860,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. grew its position in shares of Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after acquiring an additional 216 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares during the period. Empire Financial Management Company LLC increased its position in shares of Occidental Petroleum by 4.1% in the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Occidental Petroleum by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer’s stock worth $2,863,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Up 1.5 %

Shares of NYSE:OXY opened at $49.72 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average price is $48.39 and its 200 day moving average price is $49.91. 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 Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.93%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on OXY shares. Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Mizuho decreased their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler dropped their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Finally, Stephens reiterated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.82.

About Occidental Petroleum

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.