Chemistry Wealth Management LLC Trims Stake in Occidental Petroleum Co. (NYSE:OXY)

Chemistry Wealth Management LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 29.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,295 shares of the oil and gas producer's stock after selling 10,679 shares during the quarter. Chemistry Wealth Management LLC's holdings in Occidental Petroleum were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. H&H International Investment LLC raised its position in shares of Occidental Petroleum by 497.7% in the 3rd 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. Himalaya Capital Management LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter worth about $92,433,000. Anson Funds Management LP increased its position in 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 valued at $39,453,000 after buying an additional 745,050 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 worth $710,886,000 after buying an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Occidental Petroleum during the third quarter worth approximately $18,554,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY stock traded down $0.32 during trading on Friday, hitting $51.98. The company had a trading volume of 7,831,562 shares, compared to its average volume of 11,086,349. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The stock has a market capitalization of $48.78 billion, a price-to-earnings ratio of 13.54 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 stock's 50-day moving average is $49.70 and its two-hundred day moving average is $53.52.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum's dividend payout ratio is presently 22.92%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares of the company's stock, valued at $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price target on the stock. Truist Financial lifted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. TD Cowen dropped their price objective on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Raymond James upped their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Wolfe Research boosted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company 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.