Portfolio Design Labs LLC Acquires Shares of 4,221 Occidental Petroleum Co. (NYSE:OXY)

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

A number of other institutional investors have also made changes to their positions in the company. Segment Wealth Management LLC boosted its holdings 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 worth $205,000 after purchasing an additional 196 shares during the period. Wealth Alliance Advisory Group LLC raised its holdings in shares of Occidental Petroleum by 2.2% during the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock worth $474,000 after purchasing an additional 200 shares during the period. Leavell Investment Management Inc. lifted its position in shares of Occidental Petroleum by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock worth $323,000 after buying an additional 200 shares during the last quarter. Empire Financial Management Company LLC boosted its holdings in shares of Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Occidental Petroleum by 3.2% during 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 buying an additional 250 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OXY shares. Wells Fargo & Company decreased their target price on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Wolfe Research raised their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Mizuho lowered their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Citigroup cut their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Finally, UBS Group lowered their price target 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. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.71.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now directly owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Performance

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

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.