Oak Harvest Investment Services Takes $265,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Oak Harvest Investment Services purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,358 shares of the oil and gas producer’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $50,000. Westside Investment Management Inc. boosted its stake in Occidental Petroleum by 224.0% in the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,075 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on OXY shares. Bank of America started coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the company from $54.00 to $45.00 in a research report on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, thirteen 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.com, the company presently has a consensus rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Stock Performance

OXY stock opened at $46.65 on Friday. 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 $49.54 and its two-hundred day simple moving average is $52.78. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The firm has a market cap of $43.78 billion, a price-to-earnings ratio of 12.15 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The firm 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. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.89%. Occidental Petroleum’s payout ratio is 22.92%.

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.