Clear Harbor Asset Management LLC Cuts Position in Occidental Petroleum Co. (NYSE:OXY)

Clear Harbor Asset Management LLC lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 70.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,942 shares of the oil and gas producer's stock after selling 29,088 shares during the period. Clear Harbor Asset Management LLC's holdings in Occidental Petroleum were worth $590,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OXY. Fortitude Family Office LLC boosted its stake in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum during the 3rd quarter worth $50,000. Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum during the 3rd quarter worth $87,000. Finally, Kennebec Savings Bank purchased a new position in Occidental Petroleum during the 3rd quarter worth $93,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Trading Down 0.7 %

Shares of Occidental Petroleum stock traded down $0.35 during mid-day trading on Wednesday, hitting $50.21. 9,064,956 shares of the stock were exchanged, compared to its average volume of 10,025,468. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 13.07 and a beta of 1.57. The company has a 50-day simple moving average of $49.73 and a 200 day simple moving average of $53.25. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 annualized dividend and a dividend yield of 1.75%. Occidental Petroleum's dividend payout ratio is currently 22.92%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares of the company's stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Raymond James upped their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Barclays cut their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Piper Sandler cut their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $62.19.

About Occidental Petroleum

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.