Capricorn Fund Managers Ltd Takes $4.69 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Capricorn Fund Managers Ltd bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 96,807 shares of the oil and gas producer’s stock, valued at approximately $4,691,000. Occidental Petroleum comprises about 2.1% of Capricorn Fund Managers Ltd’s portfolio, making the stock its 20th biggest position.

A number of other large investors have also added to or reduced their stakes in the company. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum in the third quarter worth $14,199,000. Stephens Inc. AR grew its stake in shares of Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Occidental Petroleum in the third quarter worth about $2,509,000. Finally, Cerity Partners LLC lifted its stake in shares of Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after acquiring an additional 15,316 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Stephens raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America initiated coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. Mizuho reduced their target price 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. Finally, Wells Fargo & Company dropped their price target on 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.19.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the acquisition, the insider now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $51.98 on Tuesday. The firm has a market capitalization of $48.78 billion, a PE ratio of 13.54 and a beta of 1.57. The company has a 50 day moving average price of $49.72 and a 200-day moving average price of $53.32. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

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

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.