TB Alternative Assets Ltd. Acquires New Position in Occidental Petroleum Co. (NYSE:OXY)

TB Alternative Assets Ltd. bought a new position in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor bought 329,082 shares of the oil and gas producer’s stock, valued at approximately $16,260,000. Occidental Petroleum accounts for about 4.2% of TB Alternative Assets Ltd.’s holdings, making the stock its 9th largest position.

A number of other large investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Occidental Petroleum by 3.3% in 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 in the last quarter. H&H International Investment LLC boosted its position in Occidental Petroleum by 497.7% in 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 buying an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Occidental Petroleum by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after buying an additional 98,703 shares in the last quarter. Swiss National Bank grew its stake in shares of Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after buying an additional 5,200 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of Occidental Petroleum by 9.4% during the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock worth $80,220,000 after buying an additional 133,546 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY opened at $51.98 on Tuesday. The firm 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 52-week low of $45.17 and a 52-week high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The business’s 50 day moving average price is $49.70 and its two-hundred day moving average price is $53.40.

Occidental Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OXY shares. Bank of America initiated coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective on the stock. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Mizuho dropped their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. The Goldman Sachs Group started 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, Piper Sandler dropped their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. One investment 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 stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $62.19.

Check Out Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Profile

(Free Report)

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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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