Net Worth Advisory Group Has $591,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Net Worth Advisory Group reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,958 shares of the oil and gas producer’s stock after selling 3,078 shares during the period. Net Worth Advisory Group’s holdings in Occidental Petroleum were worth $591,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Leavell Investment Management Inc. grew its holdings in Occidental Petroleum by 3.3% during the 3rd 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. Howard Capital Management Inc. grew its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after acquiring an additional 216 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares during the period. Empire Financial Management Company LLC grew its stake in shares of 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. Finally, Park Avenue Securities LLC grew its stake in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have purchased 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on OXY shares. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Susquehanna reduced their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Jefferies Financial Group raised their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $60.86.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $47.35 on Tuesday. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.18. The company’s 50 day moving average price is $49.25 and its two-hundred day moving average price is $50.58. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market cap of $44.44 billion, a P/E ratio of 19.41 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, equities analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Occidental Petroleum 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.