Carnegie Investment Counsel Buys 10,167 Shares of Occidental Petroleum Co. (NYSE:OXY)

Carnegie Investment Counsel boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,370 shares of the oil and gas producer’s stock after acquiring an additional 10,167 shares during the quarter. Carnegie Investment Counsel’s holdings in Occidental Petroleum were worth $2,736,000 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 OXY. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% during the 3rd 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 position in Occidental Petroleum by 497.7% during the third 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. raised its stake in shares of Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after acquiring an additional 98,703 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Occidental Petroleum by 0.3% in the 3rd 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. boosted its stake in shares of Occidental Petroleum by 20.1% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on OXY shares. UBS Group lowered their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Scotiabank dropped their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Wolfe Research lifted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fourteen have assigned 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.com, the company currently has a consensus rating of “Hold” and an average price target of $62.19.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $51.98 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company’s fifty day moving average price is $49.67 and its 200-day moving average price is $53.60. The stock has a market cap of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum 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 completion of the acquisition, the insider now directly owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% 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.