Empirical Asset Management LLC Acquires New Stake in Occidental Petroleum Co. (NYSE:OXY)

Empirical Asset Management LLC bought a new stake 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. The fund bought 53,411 shares of the oil and gas producer’s stock, valued at approximately $2,639,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gateway Advisory LLC lifted its stake in shares of Occidental Petroleum by 3.9% during the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares during the period. Segment Wealth Management LLC increased its stake in 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 last quarter. Wealth Alliance Advisory Group LLC lifted its position in Occidental Petroleum by 2.2% during 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 buying an additional 200 shares during the period. Leavell Investment Management Inc. boosted its stake in Occidental Petroleum by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock worth $323,000 after buying an additional 200 shares during the last quarter. Finally, Empire Financial Management Company LLC grew its holdings in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Down 0.6 %

NYSE:OXY opened at $51.98 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a 50 day moving average of $49.67 and a 200-day moving average of $53.60. The firm has a market capitalization of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OXY shares. Citigroup cut their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Evercore ISI decreased their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Piper Sandler dropped their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. UBS Group reduced their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.