Syon Capital LLC Acquires 11,613 Shares of Occidental Petroleum Co. (NYSE:OXY)

Syon Capital LLC lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 77.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,574 shares of the oil and gas producer’s stock after purchasing an additional 11,613 shares during the quarter. Syon Capital LLC’s holdings in Occidental Petroleum were worth $1,587,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $28,000. Grove Bank & Trust boosted its position in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $34,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $35,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

OXY traded up $0.04 on Friday, hitting $59.84. The company’s stock had a trading volume of 8,611,084 shares, compared to its average volume of 5,898,237. The company’s 50 day simple moving average is $64.09 and its 200-day simple moving average is $61.42. The firm has a market cap of $53.06 billion, a P/E ratio of 16.35 and a beta of 1.59. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18. 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 posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the company posted $1.09 EPS. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Co. will post 3.89 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 765,899 shares of the stock in a transaction on Wednesday, June 12th. The shares were acquired at an average cost of $60.28 per share, for a total transaction of $46,168,391.72. Following the purchase, the insider now directly owns 252,333,913 shares of the company’s stock, valued at approximately $15,210,688,275.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 3,261,633 shares of company stock worth $195,475,671 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OXY. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Citigroup reduced their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Barclays began coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective on the stock. HSBC began coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $71.50.

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.