Merit Financial Group LLC Purchases 2,865 Shares of Occidental Petroleum Co. (NYSE:OXY)

Merit Financial Group LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 56.0% during the fourth quarter, HoldingsChannel reports. The firm owned 7,984 shares of the oil and gas producer’s stock after buying an additional 2,865 shares during the period. Merit Financial Group LLC’s holdings in Occidental Petroleum were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of Occidental Petroleum by 160.0% in the 3rd 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 in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the third quarter worth approximately $32,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum in the third quarter valued at approximately $50,000. Exchange Traded Concepts LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $87,000. Finally, Kennebec Savings Bank bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $93,000. Institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Down 2.1 %

Shares of Occidental Petroleum stock opened at $49.26 on Friday. The stock has a market capitalization of $46.22 billion, a P/E ratio of 12.83 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 debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock’s 50-day simple moving average is $49.70 and its 200 day simple moving average is $53.20.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Analyst Ratings Changes

OXY has been the subject of a number of research reports. TD Cowen reduced their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Barclays decreased their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Truist Financial upped 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. Finally, Raymond James lifted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Profile

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.