SignalPoint Asset Management LLC Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

SignalPoint Asset Management LLC increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 55.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,158 shares of the oil and gas producer’s stock after buying an additional 5,737 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Occidental Petroleum were worth $798,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC increased its stake in shares of Occidental Petroleum by 38.2% in the second quarter. Thoroughbred Financial Services LLC now owns 5,314 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 1,468 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of Occidental Petroleum in the second quarter worth about $222,000. Citizens Financial Group Inc. RI increased its stake in shares of Occidental Petroleum by 18.5% in the second quarter. Citizens Financial Group Inc. RI now owns 5,029 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 784 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Occidental Petroleum by 5.9% in the second quarter. Moors & Cabot Inc. now owns 31,275 shares of the oil and gas producer’s stock worth $1,971,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Occidental Petroleum by 8.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 50,448 shares of the oil and gas producer’s stock worth $3,180,000 after purchasing an additional 4,113 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.2 %

Shares of OXY opened at $52.68 on Thursday. The firm has a market cap of $49.43 billion, a price-to-earnings ratio of 13.72 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The firm has a 50 day moving average price of $49.62 and a 200-day moving average price of $53.61.

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 issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.67%. Occidental Petroleum’s payout ratio is 22.92%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OXY shares. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Evercore ISI reduced their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company reduced their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, TD Cowen reduced their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price 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.