Alteri Wealth LLC Acquires New Position in Occidental Petroleum Co. (NYSE:OXY)

Alteri Wealth LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,870 shares of the oil and gas producer's stock, valued at approximately $636,000.

Other large investors have also recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its holdings in Occidental Petroleum by 74.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 54,650 shares of the oil and gas producer's stock worth $2,700,000 after buying an additional 23,350 shares during the period. AXA S.A. boosted its holdings in shares of Occidental Petroleum by 309.3% in the fourth quarter. AXA S.A. now owns 141,192 shares of the oil and gas producer's stock worth $6,976,000 after acquiring an additional 106,696 shares during the period. Wahed Invest LLC grew its position in shares of Occidental Petroleum by 6.5% in the fourth quarter. Wahed Invest LLC now owns 17,246 shares of the oil and gas producer's stock valued at $852,000 after purchasing an additional 1,053 shares in the last quarter. One68 Global Capital LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $445,000. Finally, Triumph Capital Management boosted its stake in Occidental Petroleum by 55.7% in the 4th quarter. Triumph Capital Management now owns 8,205 shares of the oil and gas producer's stock worth $405,000 after purchasing an additional 2,935 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $40.61 on Friday. The company has a market capitalization of $38.16 billion, a P/E ratio of 16.64 and a beta of 1.02. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $65.78. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock has a 50 day moving average price of $43.72 and a two-hundred day moving average price of $47.65.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.36%. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Barclays cut their price target on shares of Occidental Petroleum from $58.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. UBS Group reduced their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus price target of $54.19.

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.

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