Clarity Financial LLC Sells 2,512 Shares of Occidental Petroleum Co. (NYSE:OXY)

Clarity Financial LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 35.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,476 shares of the oil and gas producer’s stock after selling 2,512 shares during the period. Clarity Financial LLC’s holdings in Occidental Petroleum were worth $221,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Certified Advisory Corp purchased a new position in shares of Occidental Petroleum in the 4th quarter worth about $476,000. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $14,199,000. Stephens Inc. AR increased its position in Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 10,382 shares in the last quarter. Sarasin & Partners LLP raised its stake in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after acquiring an additional 50,983 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $2,509,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on OXY. BMO Capital Markets dropped their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Citigroup lowered their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Wolfe Research lifted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.19.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $48.87 on Friday. The firm’s fifty day simple moving average is $49.59 and its two-hundred day simple moving average is $52.81. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The firm has a market capitalization of $45.86 billion, a P/E ratio of 12.73 and a beta of 1.57.

Occidental Petroleum Announces Dividend

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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.