Harbor Capital Advisors Inc. Grows Stake in Occidental Petroleum Co. (NYSE:OXY)

Harbor Capital Advisors Inc. increased its position in Occidental Petroleum Co. (NYSE:OXY) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,368 shares of the oil and gas producer’s stock after purchasing an additional 1,274 shares during the period. Harbor Capital Advisors Inc.’s holdings in Occidental Petroleum were worth $1,155,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth $50,000. Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum in the third quarter worth $87,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Occidental Petroleum during the third quarter valued at $93,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Up 0.3 %

OXY opened at $51.35 on Monday. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a market cap of $48.18 billion, a price-to-earnings ratio of 13.37 and a beta of 1.57. The firm’s fifty day moving average is $49.54 and its 200 day moving average is $53.76.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. 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 research report on Monday, December 9th. Susquehanna lowered their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. BMO Capital Markets lowered their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Finally, Bank of America initiated coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued 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 a consensus price target of $62.10.

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.