Keynote Financial Services LLC Grows Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Keynote Financial Services LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,707 shares of the oil and gas producer's stock after buying an additional 6,164 shares during the quarter. Occidental Petroleum makes up 1.7% of Keynote Financial Services LLC's portfolio, making the stock its 11th biggest holding. Keynote Financial Services LLC's holdings in Occidental Petroleum were worth $2,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OXY. Metis Global Partners LLC increased its stake in Occidental Petroleum by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 29,791 shares of the oil and gas producer's stock worth $1,472,000 after buying an additional 1,026 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Occidental Petroleum by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock worth $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Sage Investment Counsel LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at approximately $499,000. SVB Wealth LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $277,000. Finally, Milestones Administradora de Recursos Ltda. boosted its stake in Occidental Petroleum by 10.6% in the 4th quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer's stock worth $9,577,000 after purchasing an additional 18,500 shares during the period. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research reports. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Mizuho dropped their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Raymond James raised their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 21st. Citigroup decreased their target price on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.55.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 6,854,394 shares of company stock worth $315,101,532. Insiders own 0.31% of the company's stock.

Occidental Petroleum Stock Down 2.1 %

Shares of OXY traded down $0.98 during mid-day trading on Wednesday, hitting $45.55. The company's stock had a trading volume of 17,133,400 shares, compared to its average volume of 11,336,131. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company's 50-day moving average is $49.40 and its 200-day moving average is $50.86. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.18. The firm has a market capitalization of $42.74 billion, a price-to-earnings ratio of 18.67 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.11%. Occidental Petroleum's dividend payout ratio is presently 39.34%.

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.