Segment Wealth Management LLC Has $211,000 Holdings in Occidental Petroleum Co. (NYSE:OXY)

Segment Wealth Management LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,278 shares of the oil and gas producer’s stock after purchasing an additional 305 shares during the period. Segment Wealth Management LLC’s holdings in Occidental Petroleum were worth $211,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. TB Alternative Assets Ltd. bought a new position in Occidental Petroleum during the fourth quarter valued at about $16,260,000. Ballentine Partners LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $248,000. Koshinski Asset Management Inc. increased its position in shares of Occidental Petroleum by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 32,427 shares of the oil and gas producer’s stock valued at $1,602,000 after purchasing an additional 615 shares during the period. Sarasin & Partners LLP lifted its position in Occidental Petroleum by 5.4% in the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the period. Finally, Lincoln Capital LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth $1,514,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $50.57 on Wednesday. The stock has a 50-day moving average of $49.72 and a 200-day moving average of $53.32. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The stock has a market cap of $47.46 billion, a PE ratio of 13.17 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OXY. Mizuho dropped their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. UBS Group cut their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Evercore ISI lowered their price objective 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. Piper Sandler cut their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.19.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the transaction, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

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.