Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 49.3% in the 4th quarter, HoldingsChannel reports. The fund owned 48,908 shares of the oil and gas producer’s stock after selling 47,464 shares during the quarter. Occidental Petroleum accounts for approximately 1.0% of Financial Partners Group LLC’s investment portfolio, making the stock its 27th biggest holding. Financial Partners Group LLC’s holdings in Occidental Petroleum were worth $2,417,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Occidental Petroleum during the second quarter worth $256,000. Canada Pension Plan Investment Board grew its position in shares of Occidental Petroleum by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 66,216 shares of the oil and gas producer’s stock valued at $4,174,000 after purchasing an additional 21,462 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 45.1% in the second 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 last quarter. Thrivent Financial for Lutherans lifted its holdings in Occidental Petroleum by 2.6% in 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 purchasing an additional 1,425 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its position in Occidental Petroleum by 7.3% during the second quarter. Evergreen Capital Management LLC now owns 4,782 shares of the oil and gas producer’s stock worth $302,000 after acquiring an additional 326 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Up 0.2 %

Shares of Occidental Petroleum stock opened at $50.31 on Friday. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The firm has a market cap of $47.20 billion, a PE ratio of 13.10 and a beta of 1.57. 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 simple moving average is $49.71 and its 200 day simple moving average is $53.22.

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 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 22.92%.

Analysts Set New Price Targets

Several brokerages recently commented on OXY. UBS Group dropped 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 report on Monday, December 9th. Citigroup dropped their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Scotiabank dropped their price target on shares of 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. Raymond James upped their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target 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.