Stratos Wealth Partners LTD. Purchases 1,486 Shares of Occidental Petroleum Co. (NYSE:OXY)

07 Jan 2024, 10:44 by Mitch Edgeman · The Markets Daily

Stratos Wealth Partners LTD. increased its position in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,716 shares of the oil and gas producer’s stock after acquiring an additional 1,486 shares during the period. Stratos Wealth Partners LTD.’s holdings in Occidental Petroleum were worth $1,149,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of OXY. Berkshire Hathaway Inc grew its holdings in shares of Occidental Petroleum by 8.9% in the first quarter. Berkshire Hathaway Inc now owns 211,707,119 shares of the oil and gas producer’s stock worth $13,216,875,000 after acquiring an additional 17,355,469 shares during the period. Moneta Group Investment Advisors LLC purchased a new position in Occidental Petroleum during the fourth quarter valued at $267,173,000. Fairfax Financial Holdings Ltd. Can lifted its position in Occidental Petroleum by 228.9% during the first quarter. Fairfax Financial Holdings Ltd. Can now owns 3,030,427 shares of the oil and gas producer’s stock valued at $189,159,000 after purchasing an additional 2,108,927 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Occidental Petroleum by 26.0% during the second quarter. Bank of New York Mellon Corp now owns 9,687,278 shares of the oil and gas producer’s stock valued at $569,612,000 after purchasing an additional 1,998,851 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Occidental Petroleum by 87.9% during the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock valued at $185,885,000 after purchasing an additional 1,532,100 shares in the last quarter. Institutional investors own 77.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OXY shares. Morgan Stanley upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and set a $68.00 target price on the stock in a research report on Monday, December 11th. Truist Financial lowered their target price on Occidental Petroleum from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, December 12th. Mizuho downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research report on Wednesday. Roth Mkm restated a “neutral” rating and issued a $60.00 price objective on shares of Occidental Petroleum in a research report on Tuesday, September 12th. Finally, UBS Group boosted their price objective on Occidental Petroleum from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.41.

View Our Latest Analysis on Occidental Petroleum

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,040,067 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average price of $63.05 per share, with a total value of $65,576,224.35. Following the completion of the purchase, the insider now owns 228,051,027 shares in the company, valued at approximately $14,378,617,252.35. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased 11,447,143 shares of company stock valued at $677,246,135 over the last ninety days. 0.31% of the stock is owned by insiders.

Occidental Petroleum Trading Down 0.3 %

Shares of NYSE OXY opened at $58.94 on Friday. The business’s 50 day moving average is $59.92 and its two-hundred day moving average is $61.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.92 and a quick ratio of 0.70. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $67.93. The stock has a market capitalization of $51.89 billion, a P/E ratio of 12.90 and a beta of 1.62.

Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.29. Occidental Petroleum had a return on equity of 25.39% and a net margin of 18.26%. The company had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, research analysts expect that Occidental Petroleum Co. will post 4.07 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.72 annualized dividend and a yield of 1.22%. Occidental Petroleum’s payout ratio is currently 15.75%.

Occidental Petroleum Profile

(Free Report)

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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