Axxcess Wealth Management LLC Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Axxcess Wealth Management LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,944 shares of the oil and gas producer's stock after purchasing an additional 10,120 shares during the quarter. Axxcess Wealth Management LLC's holdings in Occidental Petroleum were worth $2,270,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth $27,000. Atala Financial Inc purchased a new stake in Occidental Petroleum in the 4th quarter worth $40,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter worth $50,000. Deseret Mutual Benefit Administrators increased its stake in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock worth $58,000 after buying an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth $59,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 0.3 %

NYSE OXY traded up $0.15 during trading on Friday, hitting $48.11. The stock had a trading volume of 23,294,817 shares, compared to its average volume of 9,989,599. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock has a market capitalization of $45.15 billion, a price-to-earnings ratio of 19.72 and a beta of 1.51. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The stock has a 50 day simple moving average of $48.61 and a 200 day simple moving average of $50.01.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current 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 annualized dividend and a yield of 2.00%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.34%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stephens reiterated an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Citigroup cut their price objective on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. UBS Group raised their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $60.45.

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.