Prospect Financial Services LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Prospect Financial Services LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,607 shares of the oil and gas producer’s stock, valued at approximately $475,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC raised its position in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the third quarter worth $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the third quarter worth $50,000. Westside Investment Management Inc. boosted its holdings in shares of Occidental Petroleum by 224.0% during the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,075 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $87,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the topic of several research reports. Scotiabank dropped their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company cut their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. The Goldman Sachs Group started coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, 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 research report on Monday, December 16th. One 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 given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $49.55 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The stock’s 50-day simple moving average is $49.69 and its 200-day simple moving average is $53.01. The company has a market capitalization of $46.50 billion, a price-to-earnings ratio of 12.90 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 22.92%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

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.