Westside Investment Management Inc. Acquires 1,075 Shares of Occidental Petroleum Co. (NYSE:OXY)

Westside Investment Management Inc. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 224.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,555 shares of the oil and gas producer’s stock after buying an additional 1,075 shares during the period. Westside Investment Management Inc.’s holdings in Occidental Petroleum were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Simon Quick Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $247,000. Capricorn Fund Managers Ltd bought a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $4,691,000. Segment Wealth Management LLC lifted its position in Occidental Petroleum by 7.7% during the fourth quarter. Segment Wealth Management LLC now owns 4,278 shares of the oil and gas producer’s stock valued at $211,000 after acquiring an additional 305 shares during the last quarter. TB Alternative Assets Ltd. acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $16,260,000. Finally, Ballentine Partners LLC purchased a new position in Occidental Petroleum in the fourth quarter worth $248,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $50.21 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company’s fifty day moving average price is $49.73 and its 200 day moving average price is $53.25. The stock has a market capitalization of $47.11 billion, a P/E ratio of 13.07 and a beta of 1.57. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18.

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 dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Ratings Changes

OXY has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective 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. Mizuho cut their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Finally, Barclays dropped their price objective on shares of 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 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $62.19.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently 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.