Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. trimmed its holdings in Occidental Petroleum Co. (NYSE:OXY) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,790 shares of the oil and gas producer’s stock after selling 2,306 shares during the period. Institute for Wealth Management LLC.’s holdings in Occidental Petroleum were worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum in the 3rd quarter valued at about $50,000. Westside Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 224.0% during the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,075 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum during the third quarter worth $87,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OXY shares. Piper Sandler reduced their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Bank of America initiated coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Barclays dropped their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Trading Up 0.1 %

OXY opened at $48.87 on Friday. The business’s 50-day simple moving average is $49.59 and its 200-day simple moving average is $52.81. 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 company has a market cap of $45.86 billion, a P/E ratio of 12.73 and a beta of 1.57. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Occidental Petroleum Company Profile

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.