Carnegie Investment Counsel Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Carnegie Investment Counsel boosted its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,370 shares of the oil and gas producer's stock after purchasing an additional 10,167 shares during the quarter. Carnegie Investment Counsel's holdings in Occidental Petroleum were worth $2,736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OXY. Fortitude Family Office LLC raised its holdings in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $50,000. Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $87,000. Finally, Kennebec Savings Bank purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $93,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 0.6 %

Shares of NYSE OXY traded down $0.32 during mid-day trading on Friday, hitting $51.98. 7,831,562 shares of the stock traded hands, compared to its average volume of 11,086,349. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a market cap of $48.78 billion, a price-to-earnings ratio of 13.54 and a beta of 1.57. The stock has a fifty day moving average price of $49.70 and a 200-day moving average price of $53.52.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum's dividend payout ratio is presently 22.92%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company's stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on OXY. Wolfe Research lifted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group began coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price target on the stock. Scotiabank decreased their price target on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Barclays decreased their price target on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 3rd. Finally, BMO Capital Markets decreased their price target on Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $62.19.

Occidental Petroleum 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.