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

Bennett Selby Investments LP decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OXY. Segment Wealth Management LLC grew its position in shares of Occidental Petroleum by 5.2% during the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its holdings in shares of Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after purchasing an additional 200 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares in the last quarter. Empire Financial Management Company LLC lifted its position in Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after purchasing an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 250 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 2.1 %

OXY opened at $49.26 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a fifty day moving average of $49.70 and a two-hundred day moving average of $53.20. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 12.83 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. This represents a $0.88 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Analyst Ratings Changes

Several analysts recently weighed in on OXY shares. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Barclays reduced their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. 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 issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.19.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was bought 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 approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

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.