Sumitomo Mitsui Trust Group Inc. lessened its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,456,171 shares of the oil and gas producer's stock after selling 25,878 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of Occidental Petroleum worth $71,949,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Segment Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer's stock worth $205,000 after buying an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its position in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer's stock valued at $474,000 after acquiring an additional 200 shares during the period. Leavell Investment Management Inc. raised its stake in Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer's stock worth $323,000 after acquiring an additional 200 shares in the last quarter. Empire Financial Management Company LLC lifted its holdings in shares of Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock valued at $329,000 after acquiring an additional 250 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 88.70% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on OXY. Raymond James lifted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a report on Thursday, November 21st. StockNews.com cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. restated a "neutral" rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price objective for the company. Finally, Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $61.71.
Read Our Latest Stock Report on Occidental Petroleum
Insider Buying and Selling
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company's stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 6,854,394 shares of company stock valued at $315,101,532 over the last three months. Company insiders own 0.31% of the company's stock.
Occidental Petroleum Trading Up 0.0 %
OXY traded up $0.01 during trading on Thursday, reaching $47.84. 8,429,124 shares of the company's stock were exchanged, compared to its average volume of 9,812,994. The company's fifty day moving average price is $49.01 and its 200-day moving average price is $51.82. The firm has a market capitalization of $44.89 billion, a PE ratio of 12.46 and a beta of 1.55. 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 debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.
About Occidental Petroleum
(
Free Report)
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.
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