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

Chemistry Wealth Management LLC cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,295 shares of the oil and gas producer’s stock after selling 10,679 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,250,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Saxon Interests Inc. raised its position in shares of Occidental Petroleum by 93.2% in the fourth quarter. Saxon Interests Inc. now owns 8,395 shares of the oil and gas producer’s stock valued at $415,000 after purchasing an additional 4,050 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of Occidental Petroleum by 72.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,886 shares of the oil and gas producer’s stock valued at $538,000 after purchasing an additional 4,581 shares during the period. Procyon Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $2,571,000. Empirical Asset Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $2,639,000. Finally, Certified Advisory Corp bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $476,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 0.6 %

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. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year 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 company has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently declared 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 1.69%. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Susquehanna lowered their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Wolfe Research raised their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Scotiabank lowered their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.19.

Occidental Petroleum Company 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.