Ballentine Partners LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,316 shares of the oil and gas producer’s stock, valued at approximately $216,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. VisionPoint Advisory Group LLC increased its position in Occidental Petroleum by 1.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Occidental Petroleum by 0.8% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 23,523 shares of the oil and gas producer’s stock worth $1,405,000 after purchasing an additional 185 shares in the last quarter. Strategic Advocates LLC raised its holdings in Occidental Petroleum by 1.8% in the 4th quarter. Strategic Advocates LLC now owns 10,356 shares of the oil and gas producer’s stock worth $618,000 after purchasing an additional 186 shares in the last quarter. Greatmark Investment Partners Inc. raised its holdings in Occidental Petroleum by 1.5% in the 4th quarter. Greatmark Investment Partners Inc. now owns 13,180 shares of the oil and gas producer’s stock worth $787,000 after purchasing an additional 200 shares in the last quarter. Finally, Peterson Wealth Services raised its holdings in Occidental Petroleum by 0.5% in the 4th quarter. Peterson Wealth Services now owns 40,311 shares of the oil and gas producer’s stock worth $2,407,000 after purchasing an additional 210 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.
Occidental Petroleum Stock Performance
Shares of NYSE OXY opened at $62.87 on Thursday. The firm’s 50-day moving average price is $63.14 and its 200-day moving average price is $61.64. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The company has a market cap of $55.74 billion, a PE ratio of 17.18 and a beta of 1.59. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18.
Occidental Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s payout ratio is presently 24.04%.
Analysts Set New Price Targets
Several brokerages have commented on OXY. Mizuho upped their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Citigroup decreased their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Truist Financial lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the stock from $84.00 to $69.00 in a research note on Thursday, May 16th. Finally, Susquehanna increased their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Eleven equities research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.56.
Read Our Latest Report on Occidental Petroleum
Insider Activity
In related news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the acquisition, the insider now directly owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 4,656,747 shares of company stock valued at $278,664,028 in the last 90 days. 0.31% of the stock is currently owned by insiders.
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.
Read More
- Five stocks we like better than Occidental Petroleum
- What Are Dividends? Buy the Best Dividend Stocks
- Stock Impact: McDonald’s Price War with Starbucks, Wendy’s
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- General Mills Q4 Sales Miss Expectations, Triggering Stock Drop
- What Are Growth Stocks and Investing in Them
- Enovix Stock Rises 35% in Short-Squeeze: This Rally Has Legs
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY – Free Report).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.