HBC Financial Services PLLC Sells 16,000 Shares of Occidental Petroleum Co. (NYSE:OXY)

HBC Financial Services PLLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 88.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,060 shares of the oil and gas producer’s stock after selling 16,000 shares during the period. HBC Financial Services PLLC’s holdings in Occidental Petroleum were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its position in shares of Occidental Petroleum by 8.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,448 shares of the oil and gas producer’s stock worth $3,180,000 after purchasing an additional 4,113 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $256,000. Canada Pension Plan Investment Board increased its stake in Occidental Petroleum by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 66,216 shares of the oil and gas producer’s stock worth $4,174,000 after acquiring an additional 21,462 shares during the period. AE Wealth Management LLC increased its stake in Occidental Petroleum by 45.1% during the 2nd quarter. AE Wealth Management LLC now owns 10,813 shares of the oil and gas producer’s stock worth $682,000 after acquiring an additional 3,363 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Occidental Petroleum by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,093 shares of the oil and gas producer’s stock valued at $3,599,000 after acquiring an additional 1,425 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is owned by company insiders.

Occidental Petroleum Trading Down 0.6 %

NYSE:OXY opened at $51.98 on Tuesday. 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 firm’s fifty day moving average is $49.70 and its 200-day moving average is $53.40. The firm has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Citigroup decreased their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Wolfe Research boosted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Scotiabank decreased their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, TD Cowen reduced their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.19.

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.