Financial Management Network Inc. Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Financial Management Network Inc. lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 25.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,854 shares of the oil and gas producer’s stock after selling 1,631 shares during the period. Financial Management Network Inc.’s holdings in Occidental Petroleum were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in Occidental Petroleum by 1.9% during the fourth quarter. New York State Common Retirement Fund now owns 740,970 shares of the oil and gas producer’s stock worth $36,611,000 after buying an additional 13,633 shares in the last quarter. Callahan Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $400,000. Kentucky Retirement Systems Insurance Trust Fund raised its position in Occidental Petroleum by 43.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,545 shares of the oil and gas producer’s stock worth $1,410,000 after acquiring an additional 8,610 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in Occidental Petroleum by 94.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 25,259 shares of the oil and gas producer’s stock worth $1,248,000 after acquiring an additional 12,251 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its position in Occidental Petroleum by 7.9% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 106,307 shares of the oil and gas producer’s stock worth $5,253,000 after acquiring an additional 7,784 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 6,854,394 shares of company stock worth $315,101,532 in the last ninety days. 0.48% of the stock is owned by insiders.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $48.98 on Wednesday. The company has a market capitalization of $45.96 billion, a PE ratio of 12.75 and a beta of 1.55. The firm has a fifty day simple moving average of $49.01 and a 200-day simple moving average of $51.45. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 15.89% and a return on equity of 15.98%. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Mizuho cut 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 report on Monday, December 16th. Finally, Raymond James boosted their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.71.

Occidental Petroleum 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.