Occidental Petroleum Co. (NYSE:OXY) Stock Position Lowered by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 38.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,319 shares of the oil and gas producer’s stock after selling 6,566 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Occidental Petroleum were worth $543,000 at the end of the most recent quarter.

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

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Price Performance

NYSE OXY opened at $45.36 on Friday. The stock has a 50-day simple moving average of $50.18 and a 200 day simple moving average of $55.13. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The stock has a market capitalization of $42.56 billion, a PE ratio of 11.81 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.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.94%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Susquehanna dropped their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Stephens lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Raymond James upped their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $62.10.

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.