Heritage Wealth Management Inc. Has $280,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Heritage Wealth Management Inc. lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,668 shares of the oil and gas producer’s stock after selling 300 shares during the period. Heritage Wealth Management Inc.’s holdings in Occidental Petroleum were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $476,000. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $14,199,000. Stephens Inc. AR grew its position in shares of Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the last quarter. Sarasin & Partners LLP grew its position in shares of Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after buying an additional 50,983 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $2,509,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. TD Cowen cut their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Stephens restated an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.55.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 6,854,394 shares of company stock worth $315,101,532 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Up 0.4 %

OXY stock opened at $48.85 on Friday. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. 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’s 50 day moving average is $49.46 and its 200-day moving average is $51.06. The firm has a market capitalization of $45.85 billion, a PE ratio of 20.02 and a beta of 1.55.

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

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 1.97%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

About Occidental Petroleum

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.