Traynor Capital Management Inc. Sells 1,235 Shares of Occidental Petroleum Co. (NYSE:OXY)

Traynor Capital Management Inc. lessened its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,471 shares of the oil and gas producer’s stock after selling 1,235 shares during the quarter. Traynor Capital Management Inc.’s holdings in Occidental Petroleum were worth $221,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. H&H International Investment LLC grew 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 worth $475,389,000 after acquiring an additional 7,680,598 shares in the last quarter. Anson Funds Management LP boosted its holdings in shares of Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares during the period. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% during 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Occidental Petroleum in the third quarter worth $18,554,000. Finally, TB Alternative Assets Ltd. purchased a new position in Occidental Petroleum during the fourth quarter worth $16,260,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Susquehanna lowered their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Piper Sandler decreased their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Scotiabank decreased their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $62.19.

Occidental Petroleum Stock Performance

OXY stock opened at $50.31 on Friday. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The firm has a market cap of $47.20 billion, a price-to-earnings 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 firm has a 50-day simple moving average of $49.71 and a two-hundred day simple moving average of $53.22.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

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.