Sumitomo Mitsui Trust Group Inc. Has $71.95 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,456,171 shares of the oil and gas producer’s stock after selling 25,878 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of Occidental Petroleum worth $71,949,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $3,447,000. McHugh Group LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at about $938,000. Silver Oak Securities Incorporated acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $210,000. Choreo LLC increased its stake in shares of Occidental Petroleum by 3.5% in the 4th quarter. Choreo LLC now owns 61,770 shares of the oil and gas producer’s stock valued at $3,014,000 after acquiring an additional 2,084 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Occidental Petroleum by 42.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,711 shares of the oil and gas producer’s stock worth $2,754,000 after acquiring an additional 16,982 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.4 %

OXY stock opened at $46.79 on Monday. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company has a market cap of $43.91 billion, a price-to-earnings ratio of 12.18 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $49.10 and a two-hundred day moving average price of $52.08.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Wolfe Research increased their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Bank of America started coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Susquehanna decreased their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Finally, Citigroup cut their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $61.71.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the purchase, the insider now directly owns 257,758,886 shares in the company, valued at $11,921,348,477.50. The trade was a 0.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.