629 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Able Wealth Management LLC

Able Wealth Management LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 629 shares of the oil and gas producer’s stock, valued at approximately $38,000.

Several other hedge funds also recently bought and sold shares of the company. SeaCrest Wealth Management LLC grew its position in shares of Occidental Petroleum by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares during the period. Cullen Investment Group LTD. acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $1,006,000. Koshinski Asset Management Inc. increased its position in shares of Occidental Petroleum by 53.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after acquiring an additional 16,871 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Occidental Petroleum by 1,279.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock worth $13,847,000 after acquiring an additional 215,091 shares during the period. Finally, Bridgefront Capital LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at $763,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the transaction, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 3,261,633 shares of company stock valued at $195,475,671. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Susquehanna lifted their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Truist Financial cut Occidental Petroleum from a “buy” rating to a “hold” rating and cut their target price for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.50.

Occidental Petroleum Stock Up 0.1 %

OXY opened at $59.84 on Friday. The stock’s fifty day simple moving average is $64.09 and its 200 day simple moving average is $61.42. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The stock has a market cap of $53.06 billion, a PE ratio of 16.35 and a beta of 1.59. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter last year, the company posted $1.09 EPS. Occidental Petroleum’s quarterly revenue was down 17.2% compared to the same quarter last year. As a group, research analysts expect that Occidental Petroleum Co. will post 3.89 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s payout ratio is 24.04%.

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.