Palumbo Wealth Management LLC Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Palumbo Wealth Management LLC boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 11.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,409 shares of the oil and gas producer’s stock after buying an additional 2,951 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,404,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OXY. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% in the 3rd 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 in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $50,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Occidental Petroleum during the 4th quarter worth $68,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Stephens increased their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler dropped 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. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.71.

Occidental Petroleum Stock Up 0.5 %

NYSE OXY opened at $48.13 on Friday. The stock has a market cap of $45.16 billion, a PE ratio of 12.53 and a beta of 1.55. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The business has a 50 day moving average price of $49.00 and a two-hundred day moving average price of $51.71. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. 0.31% of the stock is owned by company insiders.

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.