Liberty One Investment Management LLC Purchases 816 Shares of Occidental Petroleum Co. (NYSE:OXY)

Liberty One Investment Management LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 20.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,770 shares of the oil and gas producer’s stock after buying an additional 816 shares during the period. Liberty One Investment Management LLC’s holdings in Occidental Petroleum were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its position in Occidental Petroleum by 8.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 50,448 shares of the oil and gas producer’s stock worth $3,180,000 after acquiring an additional 4,113 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $256,000. Intech Investment Management LLC raised its holdings in shares of Occidental Petroleum by 59.4% during the 2nd quarter. Intech Investment Management LLC now owns 64,283 shares of the oil and gas producer’s stock valued at $4,052,000 after buying an additional 23,966 shares in the last quarter. Ieq Capital LLC boosted its stake in Occidental Petroleum by 14.8% in the second quarter. Ieq Capital LLC now owns 34,060 shares of the oil and gas producer’s stock worth $2,147,000 after buying an additional 4,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Occidental Petroleum by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 66,216 shares of the oil and gas producer’s stock worth $4,174,000 after acquiring an additional 21,462 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on OXY shares. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Citigroup lowered their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Stephens boosted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Barclays lowered their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $62.19.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Down 0.6 %

Shares of OXY stock opened at $51.98 on Monday. The stock has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. The company’s fifty day simple moving average is $49.70 and its two-hundred day simple moving average is $53.46. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18.

Occidental Petroleum Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

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.