Chemistry Wealth Management LLC Has $1.25 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Chemistry Wealth Management LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 29.7% during the fourth quarter, Holdings Channel reports. The firm owned 25,295 shares of the oil and gas producer’s stock after selling 10,679 shares during the period. Chemistry Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $14,199,000. Stephens Inc. AR increased its stake in shares of Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $2,509,000. Cerity Partners LLC increased its stake in shares of Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after acquiring an additional 15,316 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Occidental Petroleum by 1,247.7% in the 3rd quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock valued at $2,602,000 after acquiring an additional 46,740 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.19.

Insider Buying and Selling

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

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $51.98 on Friday. The company’s 50-day moving average is $49.67 and its 200 day moving average is $53.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market capitalization of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

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.