Joule Financial LLC Grows Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Joule Financial LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,595 shares of the oil and gas producer’s stock after buying an additional 1,422 shares during the period. Joule Financial LLC’s holdings in Occidental Petroleum were worth $474,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of OXY. Fortitude Family Office LLC increased its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the 3rd quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum in the third quarter worth $50,000. Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth $87,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Occidental Petroleum during the third quarter valued at $93,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on OXY. BMO Capital Markets lowered their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Citigroup decreased their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Finally, Bank of America initiated coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $62.19.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is owned by company insiders.

Occidental Petroleum Stock Down 0.6 %

OXY stock opened at $51.98 on Friday. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $49.70 and a 200-day simple moving average of $53.52. The stock has a market capitalization of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

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

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.