Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC trimmed its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 59.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,409 shares of the oil and gas producer's stock after selling 34,007 shares during the period. Royal Fund Management LLC's holdings in Occidental Petroleum were worth $1,157,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Occidental Petroleum in the second quarter valued at $256,000. Canada Pension Plan Investment Board increased its stake in shares of Occidental Petroleum by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 66,216 shares of the oil and gas producer's stock valued at $4,174,000 after acquiring an additional 21,462 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Occidental Petroleum by 45.1% during the 2nd quarter. AE Wealth Management LLC now owns 10,813 shares of the oil and gas producer's stock worth $682,000 after acquiring an additional 3,363 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Occidental Petroleum by 2.6% in the second quarter. Thrivent Financial for Lutherans now owns 57,093 shares of the oil and gas producer's stock worth $3,599,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in Occidental Petroleum by 18.1% during the second quarter. Summit Trail Advisors LLC now owns 4,026 shares of the oil and gas producer's stock worth $255,000 after purchasing an additional 618 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Occidental Petroleum Stock Down 0.7 %

Shares of OXY traded down $0.35 during trading on Wednesday, reaching $50.21. The company's stock had a trading volume of 9,064,956 shares, compared to its average volume of 10,025,468. 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 has a fifty day moving average of $49.73 and a two-hundred day moving average of $53.25. The company has a market cap of $47.11 billion, a price-to-earnings ratio of 13.07 and a beta of 1.57. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.75%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research note on Tuesday, November 26th. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets decreased their target price on Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a report on Friday, October 4th. Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a report on Thursday, November 14th. Finally, Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned 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, Occidental Petroleum presently 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.