Legacy Wealth Asset Management LLC Sells 773 Shares of Occidental Petroleum Co. (NYSE:OXY)

Legacy Wealth Asset Management LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,833 shares of the oil and gas producer’s stock after selling 773 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Occidental Petroleum were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rule One Partners LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $14,199,000. Stephens Inc. AR raised its position in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares during the period. Weiss Asset Management LP purchased a new stake in Occidental Petroleum during the third quarter valued at about $2,509,000. Cerity Partners LLC grew its stake in shares of Occidental Petroleum by 27.7% during the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after buying an additional 15,316 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Occidental Petroleum by 1,247.7% in the 3rd quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock valued at $2,602,000 after acquiring an additional 46,740 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was acquired 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. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler decreased their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company decreased their target price on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Wolfe Research increased their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Stephens upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.19.

Occidental Petroleum Trading Down 0.6 %

Shares of NYSE:OXY opened at $51.98 on Friday. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The stock’s fifty day moving average price is $49.67 and its 200-day moving average price is $53.60. The company has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum’s payout ratio is 22.92%.

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.