New Wave Wealth Advisors LLC Takes $59,000 Position in Occidental Petroleum Co. (NYSE:OXY)

New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,185 shares of the oil and gas producer’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter worth about $50,000. Westside Investment Management Inc. boosted its position in shares of Occidental Petroleum by 224.0% during the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,075 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 4.6 %

OXY stock opened at $46.65 on Friday. The stock has a market capitalization of $43.78 billion, a PE ratio of 12.15 and a beta of 1.57. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $49.54 and a 200 day moving average of $52.78.

Occidental Petroleum Announces Dividend

The business 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Susquehanna reduced their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $61.71.

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.