Stapp Wealth Management Pllc Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Stapp Wealth Management Pllc boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.5% during the fourth quarter, Holdings Channel reports. The firm owned 25,299 shares of the oil and gas producer’s stock after purchasing an additional 3,393 shares during the quarter. Occidental Petroleum comprises about 1.9% of Stapp Wealth Management Pllc’s holdings, making the stock its 12th biggest position. Stapp Wealth Management Pllc’s holdings in Occidental Petroleum were worth $1,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Certified Advisory Corp purchased a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $476,000. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $14,199,000. Stephens Inc. AR increased its stake in shares of Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares in the last quarter. Sarasin & Partners LLP raised its holdings in Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the period. Finally, Weiss Asset Management LP bought a new stake in Occidental Petroleum during the third quarter valued at about $2,509,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.5 %

OXY stock opened at $49.55 on Tuesday. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 12.90 and a beta of 1.57. 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 firm’s fifty day simple moving average is $49.69 and its two-hundred day simple moving average is $53.01.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now directly 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho decreased their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday. One 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. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Company 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.