Axxcess Wealth Management LLC Acquires 10,120 Shares of Occidental Petroleum Co. (NYSE:OXY)

Axxcess Wealth Management LLC raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,944 shares of the oil and gas producer’s stock after purchasing an additional 10,120 shares during the period. Axxcess Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $40,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators raised its position in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $59,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the 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 acquisition, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. Citigroup decreased their target price on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Piper Sandler decreased their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Stock Performance

Shares of OXY opened at $47.96 on Thursday. The business’s fifty day simple moving average is $48.74 and its two-hundred day simple moving average is $50.12. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19. The company has a market cap of $45.01 billion, a price-to-earnings ratio of 19.66 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

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.