Apollon Wealth Management LLC Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Apollon Wealth Management LLC cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,693 shares of the oil and gas producer’s stock after selling 2,024 shares during the period. Apollon Wealth Management LLC’s holdings in Occidental Petroleum were worth $825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of OXY. H&H International Investment LLC increased its stake in shares of 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 period. Scharf Investments LLC increased its position in shares of Occidental Petroleum by 48.7% in the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock valued at $121,600,000 after purchasing an additional 805,525 shares during the last quarter. Anson Funds Management LP raised its holdings in shares of Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after purchasing an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Occidental Petroleum during the third quarter worth $18,554,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 0.5 %

NYSE OXY opened at $48.60 on Wednesday. The stock has a market capitalization of $45.61 billion, a P/E ratio of 12.66 and a beta of 1.55. 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 $49.06 and a 200 day moving average price of $51.93. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OXY shares. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Citigroup lowered their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Bank of America started coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Mizuho decreased their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler decreased 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 note on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Company 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.