Bennett Selby Investments LP Lowers Position in Occidental Petroleum Co. (NYSE:OXY)

Bennett Selby Investments LP lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 14.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,579 shares of the oil and gas producer’s stock after selling 1,124 shares during the quarter. Bennett Selby Investments LP’s holdings in Occidental Petroleum were worth $325,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Occidental Petroleum by 3.3% in 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 buying an additional 444,850 shares during the period. H&H International Investment LLC boosted its holdings 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 valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Occidental Petroleum by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares in the last quarter. Swiss National Bank increased its holdings in Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after purchasing an additional 5,200 shares during the period. Finally, National Pension Service boosted its stake in shares of Occidental Petroleum by 9.4% in the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after buying an additional 133,546 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired 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 $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Down 2.1 %

Shares of OXY opened at $49.26 on Friday. The firm has a market cap of $46.22 billion, a PE ratio of 12.83 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company’s fifty day moving average is $49.70 and its two-hundred day moving average is $53.20. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Ratings Changes

A number of analysts have weighed in on OXY shares. Raymond James raised their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. TD Cowen cut their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. Finally, Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum 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.