MGO One Seven LLC Purchases 7,567 Shares of Occidental Petroleum Co. (NYSE:OXY)

MGO One Seven LLC raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 53.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,649 shares of the oil and gas producer's stock after acquiring an additional 7,567 shares during the period. MGO One Seven LLC's holdings in Occidental Petroleum were worth $1,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum in the fourth quarter worth $26,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum in the 4th quarter worth $27,000. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at about $27,000. Atala Financial Inc purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $40,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth about $42,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded down $1.09 during midday trading on Wednesday, reaching $39.26. 2,766,060 shares of the company traded hands, compared to its average volume of 10,846,606. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $68.17. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 16.11 and a beta of 1.02. The business has a 50 day moving average of $44.29 and a two-hundred day moving average of $47.88.

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

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is 39.34%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OXY. Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Susquehanna dropped their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Barclays lowered their price objective 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. Finally, The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Three research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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.