Aaron Wealth Advisors LLC Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Aaron Wealth Advisors LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 18.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,353 shares of the oil and gas producer’s stock after purchasing an additional 1,000 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of OXY. Fortitude Family Office LLC grew its holdings in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth $50,000. Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at about $87,000. Finally, Kennebec Savings Bank purchased a new stake in Occidental Petroleum during the third quarter worth about $93,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Raymond James boosted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Piper Sandler cut their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Bank of America assumed coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.19.

Occidental Petroleum Price Performance

OXY stock opened at $51.98 on Tuesday. The company has a market cap of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $49.70 and a two-hundred day moving average price of $53.40. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were issued a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.69%. Occidental Petroleum’s payout ratio is 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of Occidental Petroleum stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

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.