Lazari Capital Management Inc. Sells 740 Shares of Occidental Petroleum Co. (NYSE:OXY)

Lazari Capital Management Inc. lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,261 shares of the oil and gas producer’s stock after selling 740 shares during the quarter. Lazari Capital Management Inc.’s holdings in Occidental Petroleum were worth $556,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC raised its holdings in 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 worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $50,000. New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $59,000. Finally, Westside Investment Management Inc. raised its holdings in Occidental Petroleum by 224.0% during the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,075 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the subject of several analyst reports. Citigroup lowered their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Piper Sandler reduced their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Scotiabank reduced their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Stephens raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Two equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.71.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This 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 this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $46.65 on Monday. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The business has a fifty day moving average price of $49.43 and a 200-day moving average price of $52.54. The company has a market capitalization of $43.78 billion, a PE ratio of 12.15 and a beta of 1.55.

Occidental Petroleum Dividend Announcement

The business also recently declared 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 1.89%. Occidental Petroleum’s payout ratio is presently 22.92%.

About Occidental Petroleum

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.