Graphene Investments SAS Trims Stake in Occidental Petroleum Co. (NYSE:OXY)

Graphene Investments SAS cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,100 shares of the oil and gas producer’s stock after selling 5,300 shares during the period. Graphene Investments SAS’s holdings in Occidental Petroleum were worth $2,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC grew its stake in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter worth $50,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at $59,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Occidental Petroleum by 224.0% in the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,075 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average price 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 approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OXY shares. Piper Sandler lowered 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 report on Thursday, December 19th. Wolfe Research boosted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Scotiabank reduced their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Finally, Jefferies Financial Group lifted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Trading Down 0.9 %

Occidental Petroleum stock opened at $46.95 on Friday. 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 market cap of $44.05 billion, a PE ratio of 12.23 and a beta of 1.55. The stock has a 50-day moving average of $49.25 and a two-hundred day moving average of $52.27. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18.

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.