Westside Investment Management Inc. Boosts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Westside Investment Management Inc. increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 224.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,555 shares of the oil and gas producer’s stock after acquiring an additional 1,075 shares during the quarter. Westside Investment Management Inc.’s holdings in Occidental Petroleum were worth $77,000 at the end of the most recent quarter.

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

Occidental Petroleum Trading Down 0.7 %

NYSE:OXY opened at $50.21 on Thursday. 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 1 year low of $45.17 and a 1 year high of $71.18. The stock has a market cap of $47.11 billion, a P/E ratio of 13.07 and a beta of 1.57. The stock has a 50-day simple moving average of $49.73 and a 200-day simple moving average of $53.25.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.75%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on OXY shares. Bank of America assumed coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Raymond James lifted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. TD Cowen decreased their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price for the company. Finally, Evercore ISI decreased their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $62.19.

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.