Willis Johnson & Associates Inc. Boosts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Willis Johnson & Associates Inc. grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 50.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,306 shares of the oil and gas producer’s stock after purchasing an additional 4,148 shares during the period. Willis Johnson & Associates Inc.’s holdings in Occidental Petroleum were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Investment Research & Advisory Group Inc. lifted its stake in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares in the last quarter. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the third quarter worth $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $28,000. Grove Bank & Trust lifted its stake in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $34,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup decreased their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Truist Financial cut Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. Mizuho increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Susquehanna increased 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. Finally, Morgan Stanley increased their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.56.

Occidental Petroleum Stock Performance

NYSE:OXY traded down $0.04 during mid-day trading on Thursday, reaching $62.32. The stock had a trading volume of 4,119,048 shares, compared to its average volume of 7,619,871. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. The firm has a market capitalization of $55.26 billion, a price-to-earnings ratio of 17.03 and a beta of 1.61. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The business has a 50 day simple moving average of $62.66 and a 200 day simple moving average of $61.83.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s revenue was down 17.2% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum Co. will post 3.88 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. Occidental Petroleum’s payout ratio is 24.04%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of Occidental Petroleum stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the transaction, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders purchased 4,656,747 shares of company stock worth $278,664,028. Company insiders own 0.48% of the company’s stock.

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.