Clear Harbor Asset Management LLC Lowers Position in Occidental Petroleum Co. (NYSE:OXY)

Clear Harbor Asset Management LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 70.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,942 shares of the oil and gas producer’s stock after selling 29,088 shares during the period. Clear Harbor Asset Management LLC’s holdings in Occidental Petroleum were worth $590,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction that occurred on 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 acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Occidental Petroleum Stock Down 2.7 %

Occidental Petroleum stock opened at $50.57 on Wednesday. The stock has a market cap of $47.46 billion, a PE ratio of 13.17 and a beta of 1.57. 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 stock has a fifty day moving average of $49.72 and a 200 day moving average of $53.32. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. TD Cowen cut their target price 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. Raymond James upped their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.