TB Alternative Assets Ltd. acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 329,082 shares of the oil and gas producer's stock, valued at approximately $16,260,000. Occidental Petroleum accounts for 4.2% of TB Alternative Assets Ltd.'s portfolio, making the stock its 9th largest position.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC boosted its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the third quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum during the third quarter worth $50,000. Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the 3rd quarter valued at $87,000. Finally, Kennebec Savings Bank acquired a new stake in Occidental Petroleum in the 3rd quarter valued at $93,000. 88.70% of the stock is owned by institutional investors and hedge funds.
OXY has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Monday, December 9th. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday, November 14th. Piper Sandler dropped their price objective on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 target price on the stock. Finally, Scotiabank cut their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $62.19.
Get Our Latest Analysis on Occidental Petroleum
OXY stock opened at $51.98 on Tuesday. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week 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. The stock has a market capitalization of $48.78 billion, a price-to-earnings ratio of 13.54 and a beta of 1.57. The business's fifty day moving average price is $49.70 and its two-hundred day moving average price is $53.40.
The firm 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 1.69%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is 22.92%.
In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.48% of the company's stock.
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.
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