Gateway Investment Advisers LLC Raises Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Gateway Investment Advisers LLC increased its position in Occidental Petroleum Co. (NYSE:OXY) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,321 shares of the oil and gas producer’s stock after acquiring an additional 873 shares during the period. Gateway Investment Advisers LLC’s holdings in Occidental Petroleum were worth $11,331,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in 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 last quarter. H&H International Investment LLC grew its stake in 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 acquiring an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after acquiring an additional 98,703 shares in the last quarter. Swiss National Bank raised its position in Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after acquiring an additional 5,200 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $52.28 on Friday. The business’s 50-day simple moving average is $49.65 and its 200-day simple moving average is $53.61. The firm has a market capitalization of $49.05 billion, a P/E ratio of 13.61 and a beta of 1.57. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on OXY shares. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America initiated coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. Barclays dropped their price objective 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. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.19.

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.