Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 42,395 shares of the oil and gas producer’s stock after selling 3,843 shares during the period. Jeppson Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,095,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. AXA S.A. lifted its stake in shares of Occidental Petroleum by 1.1% in the second quarter. AXA S.A. now owns 31,721 shares of the oil and gas producer’s stock valued at $1,999,000 after purchasing an additional 349 shares during the period. AQR Capital Management LLC increased its holdings in Occidental Petroleum by 11.5% in the second quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock valued at $5,077,000 after buying an additional 8,327 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Occidental Petroleum by 111.1% during the 2nd quarter. APG Asset Management N.V. now owns 151,499 shares of the oil and gas producer’s stock valued at $8,910,000 after acquiring an additional 79,727 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Occidental Petroleum by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 527,412 shares of the oil and gas producer’s stock worth $33,243,000 after acquiring an additional 1,945 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Occidental Petroleum by 4.7% in the 2nd quarter. Ascent Group LLC now owns 8,067 shares of the oil and gas producer’s stock worth $508,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OXY shares. Barclays decreased their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. Stephens lifted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, Mizuho cut their price objective 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Up 0.5 %

Shares of OXY opened at $49.55 on Tuesday. The stock’s fifty day simple moving average is $49.69 and its 200 day simple moving average is $53.01. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $46.50 billion, a P/E ratio of 12.90 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.