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

Oak Harvest Investment Services purchased a new position in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,358 shares of the oil and gas producer’s stock, valued at approximately $265,000.

Several other institutional investors have also added to or reduced their stakes in OXY. Fortitude Family Office LLC boosted its holdings in 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 acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the third quarter worth about $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the third quarter worth about $50,000. Westside Investment Management Inc. boosted its holdings 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 acquiring an additional 1,075 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on OXY. Mizuho decreased their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. TD Cowen decreased their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. BMO Capital Markets decreased their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Finally, Wells Fargo & Company decreased their target price on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Stock Down 4.6 %

Occidental Petroleum stock opened at $46.65 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The business has a 50 day simple moving average of $49.54 and a 200-day simple moving average of $52.78. The stock has a market capitalization of $43.78 billion, a PE ratio of 12.15 and a beta of 1.57. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $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 this link. Corporate insiders own 0.31% of the company’s stock.

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.