52,044 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Procyon Advisors LLC

Procyon Advisors LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 52,044 shares of the oil and gas producer's stock, valued at approximately $2,571,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. H&H International Investment LLC grew its position in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Himalaya Capital Management LLC purchased a new position in shares of Occidental Petroleum during the second quarter valued at about $92,433,000. Anson Funds Management LP grew its position in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock valued at $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after purchasing an additional 444,850 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Occidental Petroleum during the third quarter valued at about $18,554,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price target for the company. Stephens lifted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. StockNews.com upgraded Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $62.19.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company's stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company's stock.

Occidental Petroleum Trading Down 0.6 %

Shares of Occidental Petroleum stock traded down $0.32 on Friday, hitting $51.98. 7,780,487 shares of the company traded hands, compared to its average volume of 9,796,692. The stock's 50 day moving average price is $49.67 and its 200-day moving average price is $53.60. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. 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 PE ratio of 13.54 and a beta of 1.57.

Occidental Petroleum Announces Dividend

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

Occidental Petroleum Company 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.