Occidental Petroleum Co. (NYSE:OXY) Shares Sold by ARS Investment Partners LLC

ARS Investment Partners LLC lowered its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 56.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,412 shares of the oil and gas producer's stock after selling 18,645 shares during the quarter. ARS Investment Partners LLC's holdings in Occidental Petroleum were worth $712,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at about $50,000. Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum during the third quarter valued at approximately $87,000. Finally, Kennebec Savings Bank purchased a new stake in Occidental Petroleum during the third quarter valued at approximately $93,000. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on OXY. Piper Sandler reduced their price objective 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. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research note on Thursday, November 14th. Scotiabank lowered their target price 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. Evercore ISI cut their price target on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a research note on Monday, September 30th. Finally, Stephens boosted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $62.19.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price 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 trade represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.48% of the company's stock.

Occidental Petroleum Trading Down 2.7 %

Shares of OXY traded down $1.40 during midday trading on Tuesday, hitting $50.57. The stock had a trading volume of 13,386,663 shares, compared to its average volume of 10,102,200. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The stock's 50 day moving average is $49.72 and its 200 day moving average is $53.32. The firm has a market cap of $47.46 billion, a PE ratio of 13.17 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum's dividend 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.