Fifth Third Wealth Advisors LLC Decreases Stake in Occidental Petroleum Co. (NYSE:OXY)

Fifth Third Wealth Advisors LLC cut its position in Occidental Petroleum Co. (NYSE:OXY) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,848 shares of the oil and gas producer’s stock after selling 797 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of OXY. Fortitude Family Office LLC raised its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $50,000. Exchange Traded Concepts LLC acquired a new position in Occidental Petroleum in the third quarter valued at approximately $87,000. Finally, Kennebec Savings Bank purchased a new position in Occidental Petroleum in the third quarter valued at approximately $93,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Trading Down 0.6 %

NYSE OXY opened at $51.98 on Friday. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The firm has a 50-day moving average price of $49.67 and a 200 day moving average price of $53.60. The stock has a market capitalization of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57. 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 Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wolfe Research boosted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Citigroup decreased their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.19.

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.