Stonegate Investment Group LLC Makes New $282,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

Stonegate Investment Group LLC bought a new position in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 5,698 shares of the oil and gas producer’s stock, valued at approximately $282,000.

Several other hedge funds have also modified their holdings of the stock. Segment Wealth Management LLC grew its position in shares of Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock worth $474,000 after purchasing an additional 200 shares during the period. Leavell Investment Management Inc. increased its stake in Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares during the last quarter. Empire Financial Management Company LLC raised its holdings in shares of Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after purchasing an additional 250 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 250 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 1.2 %

Shares of Occidental Petroleum stock opened at $48.99 on Wednesday. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The firm has a market capitalization of $45.97 billion, a PE ratio of 12.76 and a beta of 1.57. 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 stock’s fifty day moving average is $49.66 and its 200-day moving average is $52.92.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of 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. Susquehanna cut their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.19.

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.