4,815 Shares in Occidental Petroleum Co. (NYSE:OXY) Bought by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,815 shares of the oil and gas producer’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% in the third 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 last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $50,000. Westside Investment Management Inc. raised its stake in Occidental Petroleum by 224.0% in the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,075 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum in the third quarter worth about $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY opened at $48.87 on Friday. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The firm has a market capitalization of $45.86 billion, a price-to-earnings ratio of 12.73 and a beta of 1.57. The stock’s fifty day moving average is $49.54 and its 200-day moving average is $52.78. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.80%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler decreased their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Barclays cut their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their target price for the company from $54.00 to $45.00 in a research note on Friday. TD Cowen reduced their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Mizuho decreased their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.71.

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.