Carret Asset Management LLC Has $346,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Carret Asset Management LLC lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 17.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,326 shares of the oil and gas producer’s stock after purchasing an additional 805 shares during the quarter. Carret Asset Management LLC’s holdings in Occidental Petroleum were worth $346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Investment Research & Advisory Group Inc. grew its position in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the period. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $28,000. Grove Bank & Trust boosted its position in 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 during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $34,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 0.1 %

OXY opened at $62.30 on Thursday. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The stock’s fifty day simple moving average is $62.76 and its 200 day simple moving average is $61.83. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The stock has a market cap of $55.24 billion, a PE ratio of 17.02 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, research analysts expect that Occidental Petroleum Co. will post 3.88 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

OXY has been the subject of a number of recent research reports. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. Mizuho upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Citigroup reduced their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.56.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the transaction, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 4,656,747 shares of company stock worth $278,664,028 in the last 90 days. 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.