Prospect Financial Services LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,607 shares of the oil and gas producer's stock, valued at approximately $475,000.
A number of other hedge funds also recently modified their holdings of OXY. Fortitude Family Office LLC increased its position in 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 worth $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum during the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum during the third quarter worth approximately $50,000. Westside Investment Management Inc. lifted its position in shares of Occidental Petroleum by 224.0% during the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer's stock valued at $77,000 after acquiring an additional 1,075 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum during the third quarter worth about $87,000. Institutional investors and hedge funds own 88.70% of the company's stock.
Analyst Upgrades and Downgrades
OXY has been the topic of several research analyst reports. BMO Capital Markets reduced their price objective 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. Jefferies Financial Group lifted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Piper Sandler lowered their target price 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. Mizuho lowered their price target 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. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.19.
Read Our Latest Stock Analysis on Occidental Petroleum
Insider Activity at Occidental Petroleum
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.
Occidental Petroleum Stock Performance
Occidental Petroleum stock traded down $0.57 during mid-day trading on Tuesday, reaching $48.99. 7,261,088 shares of the company's stock were exchanged, compared to its average volume of 9,872,371. The firm has a market capitalization of $45.97 billion, a PE ratio of 12.76 and a beta of 1.57. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business's fifty day simple moving average is $49.66 and its 200 day simple moving average is $52.92.
Occidental Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum's payout ratio is 22.92%.
About Occidental Petroleum
(
Free Report)
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.
Further Reading
Before you consider Occidental Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.
While Occidental Petroleum currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.