Jeppson Wealth Management LLC Trims Position in Occidental Petroleum Co. (NYSE:OXY)

Jeppson Wealth Management LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,395 shares of the oil and gas producer’s stock after selling 3,843 shares during the period. Jeppson Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Occidental Petroleum by 3.3% in the 3rd 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 acquiring an additional 444,850 shares during the period. H&H International Investment LLC boosted its holdings in Occidental Petroleum by 497.7% in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after acquiring an additional 98,703 shares during the period. Swiss National Bank increased its holdings in shares of Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after purchasing an additional 5,200 shares in the last quarter. Finally, National Pension Service raised its position in shares of Occidental Petroleum by 9.4% in the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock worth $80,220,000 after acquiring an additional 133,546 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OXY shares. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. TD Cowen lowered their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. BMO Capital Markets cut their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Scotiabank lowered their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial raised their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.19.

Occidental Petroleum Stock Up 0.5 %

OXY stock opened at $49.55 on Tuesday. The company has a market cap of $46.50 billion, a price-to-earnings ratio of 12.90 and a beta of 1.57. The company has a fifty day moving average price of $49.69 and a 200 day moving average price of $53.01. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.78%. Occidental Petroleum’s payout ratio is 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the transaction, the insider now directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

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.