HB Wealth Management LLC Boosts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

HB Wealth Management LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,660 shares of the oil and gas producer’s stock after purchasing an additional 5,290 shares during the period. HB Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,120,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Fortitude Family Office LLC increased 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 during the period. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the third quarter worth about $50,000. Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the third quarter valued at about $87,000. Finally, Kennebec Savings Bank purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $93,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. TD Cowen reduced their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Barclays lowered their price target on shares of 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. Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Finally, Citigroup lowered their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.19.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Occidental Petroleum Stock Down 0.6 %

Shares of NYSE OXY opened at $51.98 on Tuesday. The firm has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. 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 1 year low of $45.17 and a 1 year high of $71.18. The firm’s 50 day moving average price is $49.70 and its 200 day moving average price is $53.40.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 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.