Keudell Morrison Wealth Management Invests $238,000 in Occidental Petroleum Co. (NYSE:OXY)

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

A number of other hedge funds have also added to or reduced their stakes in the business. Rule One Partners LLC lifted its stake in shares of Occidental Petroleum by 18.1% in the fourth quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer’s stock valued at $16,083,000 after buying an additional 50,000 shares in the last quarter. Oak Harvest Investment Services bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $265,000. Murphy Pohlad Asset Management LLC grew its holdings in Occidental Petroleum by 88.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 21,700 shares of the oil and gas producer’s stock worth $1,072,000 after buying an additional 10,200 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Occidental Petroleum by 20.0% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 12,050 shares of the oil and gas producer’s stock valued at $595,000 after buying an additional 2,010 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its holdings in Occidental Petroleum by 93.3% during the 4th quarter. Manning & Napier Advisors LLC now owns 93,689 shares of the oil and gas producer’s stock worth $4,629,000 after acquiring an additional 45,214 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Stephens increased their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank cut their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.71.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $48.87 on Friday. The stock has a fifty day moving average of $49.54 and a 200-day moving average of $52.78. The stock has a market cap of $45.86 billion, a PE ratio of 12.73 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 fifty-two week low of $45.17 and a fifty-two week high of $71.18.

Occidental Petroleum Announces Dividend

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