Legacy Wealth Asset Management LLC Acquires 198 Shares of Occidental Petroleum Co. (NYSE:OXY)

Legacy Wealth Asset Management LLC grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 16,084 shares of the oil and gas producer’s stock after purchasing an additional 198 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Occidental Petroleum were worth $1,045,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Berkshire Hathaway Inc grew its position in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after buying an additional 19,586,612 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Occidental Petroleum by 22.2% during the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after buying an additional 1,088,052 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Occidental Petroleum by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock worth $220,910,000 after buying an additional 82,360 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after acquiring an additional 797,894 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after purchasing an additional 1,922,656 shares during the period. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OXY. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Finally, Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $71.56.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the purchase, the insider now owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 4,656,747 shares of company stock valued at $278,664,028 over the last ninety days. 0.48% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.04 during midday trading on Thursday, reaching $62.32. The company’s stock had a trading volume of 4,119,048 shares, compared to its average volume of 7,619,871. The stock has a market capitalization of $55.26 billion, a P/E ratio of 17.03 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The firm has a 50 day moving average price of $62.66 and a 200-day moving average price of $61.83. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.88 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

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.