Brooklyn Investment Group Sells 448 Shares of Occidental Petroleum Co. (NYSE:OXY)

Brooklyn Investment Group reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,573 shares of the oil and gas producer’s stock after selling 448 shares during the quarter. Brooklyn Investment Group’s holdings in Occidental Petroleum were worth $127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. H&H International Investment LLC boosted its stake in Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after buying an additional 7,680,598 shares during the period. Himalaya Capital Management LLC bought a new stake in shares of Occidental Petroleum during the 2nd quarter valued at about $92,433,000. Anson Funds Management LP grew its holdings in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after purchasing an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $18,554,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OXY. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Raymond James lifted their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. BMO Capital Markets reduced their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $51.98 on Friday. The firm has a market capitalization of $48.78 billion, a price-to-earnings ratio of 13.54 and a beta of 1.57. The stock has a fifty day moving average of $49.70 and a 200 day moving average of $53.52. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The business 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 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 payout ratio is 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the business’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 transaction, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate 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.