Cumberland Advisors Inc. Sells 1,000 Shares of Occidental Petroleum Co. (NYSE:OXY)

Cumberland Advisors Inc. lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,500 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. Occidental Petroleum comprises about 0.8% of Cumberland Advisors Inc.’s portfolio, making the stock its 29th largest holding. Cumberland Advisors Inc.’s holdings in Occidental Petroleum were worth $1,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in shares of 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 worth $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the 3rd quarter worth about $32,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the 3rd quarter worth about $50,000. Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum in the 2nd quarter worth about $53,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the 3rd quarter worth about $87,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on OXY. Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Sunday. Piper Sandler dropped their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. UBS Group dropped their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.10.

Occidental Petroleum Trading Down 0.8 %

OXY traded down $0.39 during trading on Wednesday, reaching $51.16. 7,448,259 shares of the company’s stock were exchanged, compared to its average volume of 9,958,348. Occidental Petroleum Co. has a one year low of $45.17 and a one 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 stock has a market capitalization of $48.01 billion, a PE ratio of 13.32 and a beta of 1.57. The firm has a fifty day moving average price of $49.47 and a two-hundred day moving average price of $54.01.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

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.