Prospect Financial Services LLC Purchases New Shares in Occidental Petroleum Co. (NYSE:OXY)

Prospect Financial Services LLC acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,607 shares of the oil and gas producer’s stock, valued at approximately $475,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares during the last quarter. H&H International Investment LLC boosted its position in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after buying an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after buying an additional 98,703 shares during the last quarter. Swiss National Bank raised its holdings in shares of Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after buying an additional 5,200 shares during the period. Finally, National Pension Service boosted its holdings in Occidental Petroleum by 9.4% during the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after acquiring an additional 133,546 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of research analyst reports. Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wolfe Research raised their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday. Mizuho reduced their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, TD Cowen lowered their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $49.55 on Tuesday. The business’s fifty day moving average price is $49.69 and its two-hundred day moving average price is $53.01. 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 $46.50 billion, a PE ratio of 12.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.78%. Occidental Petroleum’s payout ratio is currently 22.92%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate 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.