Occidental Petroleum Co. (NYSE:OXY) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,968 shares of the oil and gas producer’s stock after selling 1,712 shares during the period. CWA Asset Management Group LLC’s holdings in Occidental Petroleum were worth $987,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. H&H International Investment LLC grew its holdings in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum during the 2nd quarter worth approximately $92,433,000. Anson Funds Management LP increased its position in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after buying an additional 745,050 shares during the period. American Century Companies Inc. lifted its stake in Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after buying an additional 532,318 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after acquiring an additional 444,850 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $51.63 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market cap of $48.45 billion, a price-to-earnings ratio of 13.45 and a beta of 1.57. The company’s 50-day moving average price is $49.47 and its 200 day moving average price is $54.01. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.70%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stephens increased their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. UBS Group decreased their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Susquehanna dropped their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Finally, TD Cowen lowered their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $62.10.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

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.