Intrepid Capital Management Inc. Invests $102,000 in Occidental Petroleum Co. (NYSE:OXY)

Intrepid Capital Management Inc. bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,700 shares of the oil and gas producer’s stock, valued at approximately $102,000.

Other large investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth about $26,000. Orion Capital Management LLC purchased a new position in shares of Occidental Petroleum in the third quarter valued at about $27,000. TLW Wealth Management LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $28,000. Grove Bank & Trust boosted its holdings in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $34,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Barclays initiated coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target for the company. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $84.00 to $69.00 in a report on Thursday, May 16th. Wells Fargo & Company lowered their target price 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. Finally, Mizuho lifted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.94.

Occidental Petroleum Trading Down 1.0 %

OXY traded down $0.60 during trading hours on Friday, reaching $59.48. 6,964,194 shares of the company’s stock traded hands, compared to its average volume of 5,552,927. The firm has a 50-day moving average price of $64.83 and a 200 day moving average price of $61.42. The firm has a market capitalization of $52.74 billion, a PE ratio of 16.25 and a beta of 1.59. 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 Co. has a 52-week low of $55.12 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business’s revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.89 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.48%. Occidental Petroleum’s payout ratio is currently 24.04%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the business’s stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the acquisition, the insider now owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

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.