Joule Financial LLC Boosts Position in Occidental Petroleum Co. (NYSE:OXY)

Joule Financial LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 17.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,595 shares of the oil and gas producer’s stock after acquiring an additional 1,422 shares during the quarter. Joule Financial LLC’s holdings in Occidental Petroleum were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OXY. H&H International Investment LLC increased its holdings in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after buying an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $92,433,000. Anson Funds Management LP grew its holdings in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the period. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% during 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 purchasing an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Occidental Petroleum in the 3rd quarter valued at about $18,554,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Trading Down 0.6 %

NYSE:OXY opened at $51.98 on Friday. 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 Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The stock has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. The stock has a 50-day simple moving average of $49.70 and a 200-day simple moving average of $53.52.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analysts Set New Price Targets

Several brokerages have weighed in on OXY. Truist Financial increased their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Raymond James increased their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. UBS Group cut their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Mizuho lowered their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.19.

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.