Portfolio Design Labs LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Portfolio Design Labs LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,221 shares of the oil and gas producer’s stock, valued at approximately $209,000.

Other hedge funds have also made changes to their positions in the company. Segment Wealth Management LLC increased its stake in Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after purchasing an additional 196 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its stake in shares of Occidental Petroleum by 2.2% during the 3rd 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 last quarter. Leavell Investment Management Inc. increased its stake in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 200 shares during the last quarter. Empire Financial Management Company LLC boosted its position in shares of Occidental Petroleum by 4.1% in the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after acquiring an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Occidental Petroleum by 3.2% in the fourth 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 during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler cut their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. StockNews.com lowered 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 issued a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, Stephens boosted 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $47.83 on Thursday. The firm has a 50-day moving average of $49.03 and a two-hundred day moving average of $51.85. 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 stock has a market cap of $44.88 billion, a P/E ratio of 12.46 and a beta of 1.55. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is currently owned by corporate insiders.

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.