Ameritas Advisory Services LLC Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Ameritas Advisory Services LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 31.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,517 shares of the oil and gas producer’s stock after buying an additional 1,814 shares during the period. Ameritas Advisory Services LLC’s holdings in Occidental Petroleum were worth $371,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Anson Funds Management LP boosted its holdings in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares during the period. Geode Capital Management LLC increased its stake in shares of Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Occidental Petroleum during the 3rd quarter valued at $18,554,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Occidental Petroleum by 113.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 614,619 shares of the oil and gas producer’s stock valued at $31,677,000 after purchasing an additional 327,055 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $50.31 on Friday. 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 business has a 50 day moving average price of $49.71 and a 200 day moving average price of $53.22. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 13.10 and a beta of 1.57. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Analysts Set New Price Targets

OXY has been the subject of a number of research analyst reports. Citigroup cut their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Raymond James raised their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Jefferies Financial Group upped their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Mizuho cut their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.19.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the transaction, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.