Inspire Investing LLC Cuts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Inspire Investing LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,311 shares of the oil and gas producer’s stock after selling 316 shares during the quarter. Inspire Investing LLC’s holdings in Occidental Petroleum were worth $262,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 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 valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum during the 3rd quarter valued at $50,000. Westside Investment Management Inc. boosted its stake in Occidental Petroleum by 224.0% during the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $87,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $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 the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. TD Cowen dropped their price target 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. Wells Fargo & Company dropped their price target on 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. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Piper Sandler dropped their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Down 1.2 %

OXY opened at $48.99 on Wednesday. The firm has a market cap of $45.97 billion, a P/E ratio of 12.76 and a beta of 1.57. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average of $49.66 and a 200 day moving average of $52.92.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.80%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

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.