Carnegie Investment Counsel Acquires 10,167 Shares of Occidental Petroleum Co. (NYSE:OXY)

Carnegie Investment Counsel grew its holdings in Occidental Petroleum Co. (NYSE:OXY) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,370 shares of the oil and gas producer’s stock after purchasing an additional 10,167 shares during the period. Carnegie Investment Counsel’s holdings in Occidental Petroleum were worth $2,736,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC increased its holdings in 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 buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $50,000. Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum in the third quarter worth approximately $87,000. Finally, Kennebec Savings Bank bought a new stake in Occidental Petroleum in the 3rd quarter worth approximately $93,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OXY. Barclays dropped their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company dropped their target price on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Bank of America initiated coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. Jefferies Financial Group raised their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.19.

Insider Buying and Selling

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

Occidental Petroleum Trading Down 0.6 %

OXY stock opened at $51.98 on Friday. The company has a market capitalization of $48.78 billion, a price-to-earnings ratio of 13.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The business has a 50 day simple moving average of $49.67 and a two-hundred day simple moving average of $53.60.

Occidental Petroleum Dividend Announcement

The business 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. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Occidental Petroleum 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.