Cullen Investment Group LTD. Has $826,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Cullen Investment Group LTD. lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,721 shares of the oil and gas producer’s stock after selling 220 shares during the quarter. Cullen Investment Group LTD.’s holdings in Occidental Petroleum were worth $826,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OXY. Fortitude Family Office LLC grew 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 valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum during the third quarter worth $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at $50,000. Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum during the 3rd quarter worth $87,000. Finally, Kennebec Savings Bank acquired a new position in Occidental Petroleum in the 3rd quarter worth about $93,000. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OXY shares. Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Mizuho decreased their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Bank of America started coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Evercore ISI cut their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Finally, Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday. 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 given a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Trading Up 2.8 %

Shares of OXY opened at $52.74 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The firm has a 50 day moving average price of $49.59 and a 200-day moving average price of $53.69. The firm has a market cap of $49.49 billion, a price-to-earnings ratio of 13.73 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend 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.