Empirical Asset Management LLC Invests $2.64 Million in Occidental Petroleum Co. (NYSE:OXY)

Empirical Asset Management LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 53,411 shares of the oil and gas producer's stock, valued at approximately $2,639,000.

A number of other hedge funds also recently made changes to their positions in OXY. Fortitude Family Office LLC boosted its stake in Occidental Petroleum by 160.0% in 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. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $50,000. Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $87,000. Finally, Kennebec Savings Bank bought a new position in Occidental Petroleum during the 3rd quarter valued at about $93,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company's stock.

Occidental Petroleum Trading Down 0.6 %

NYSE:OXY traded down $0.32 during mid-day trading on Friday, hitting $51.98. The company had a trading volume of 7,831,562 shares, compared to its average volume of 11,086,349. The firm has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The business's fifty day moving average is $49.67 and its two-hundred day moving average is $53.60. 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 Dividend Announcement

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

Analyst Ratings Changes

OXY has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Monday, December 9th. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price target for the company. Finally, Piper Sandler decreased their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.