Mountain Lake Investment Management LLC Invests $618,000 in Occidental Petroleum Co. (NYSE:OXY)

Mountain Lake Investment Management LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,500 shares of the oil and gas producer’s stock, valued at approximately $618,000. Occidental Petroleum comprises approximately 0.7% of Mountain Lake Investment Management LLC’s portfolio, making the stock its 23rd largest position.

Other large investors also recently made changes to their positions in the company. Inspire Investing LLC boosted its stake in Occidental Petroleum by 31.6% during the 3rd quarter. Inspire Investing LLC now owns 5,627 shares of the oil and gas producer’s stock valued at $290,000 after purchasing an additional 1,352 shares during the period. Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $87,000. Vontobel Holding Ltd. boosted its stake in Occidental Petroleum by 389.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 78,802 shares of the oil and gas producer’s stock valued at $4,061,000 after purchasing an additional 62,716 shares during the period. Cornerstone Wealth Management LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $258,000. Finally, Bleakley Financial Group LLC boosted its stake in Occidental Petroleum by 8.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 10,603 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 834 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.5 %

Shares of OXY opened at $48.13 on Friday. The business’s fifty day moving average price is $49.00 and its two-hundred day moving average price is $51.71. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The firm has a market capitalization of $45.16 billion, a price-to-earnings ratio of 12.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Analyst Upgrades and Downgrades

Several research firms have commented on OXY. Jefferies Financial Group upped their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. UBS Group cut their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Piper Sandler cut their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.71.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought 6,854,394 shares of company stock valued at $315,101,532 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

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.