Cumberland Advisors Inc. Has $1.90 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Cumberland Advisors Inc. trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,500 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. Occidental Petroleum makes up about 0.8% of Cumberland Advisors Inc.’s investment portfolio, making the stock its 29th biggest position. Cumberland Advisors Inc.’s holdings in Occidental Petroleum were worth $1,902,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OXY. H&H International Investment LLC grew its stake in Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after buying an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC bought a new stake in Occidental Petroleum during the second quarter worth about $92,433,000. Anson Funds Management LP grew its stake in Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after buying an additional 745,050 shares during the last quarter. American Century Companies Inc. grew its stake in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after buying an additional 444,850 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 0.8 %

Shares of NYSE:OXY traded down $0.39 during midday trading on Wednesday, reaching $51.16. 7,448,259 shares of the company were exchanged, compared to its average volume of 9,958,348. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $49.47 and a two-hundred day simple moving average of $54.01. The firm has a market cap of $48.01 billion, a PE ratio of 13.32 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.72%. Occidental Petroleum’s payout ratio is 22.92%.

Insider Buying and Selling

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 purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OXY has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Raymond James increased their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. BMO Capital Markets decreased their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company decreased their price target 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. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.10.

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.