Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,409 shares of the oil and gas producer’s stock after purchasing 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 SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after buying an additional 444,850 shares in the last quarter. H&H International Investment LLC boosted its holdings in shares of Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after buying an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Occidental Petroleum by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after buying an additional 98,703 shares during the last quarter. Scharf Investments LLC raised its stake in Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after acquiring an additional 805,525 shares during the period. Finally, Swiss National Bank lifted its holdings in Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after acquiring an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $48.13 on Friday. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The stock has a market capitalization of $45.16 billion, a P/E ratio of 12.53 and a beta of 1.55. The firm’s 50 day moving average is $49.00 and its 200-day moving average is $51.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. Susquehanna dropped their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Raymond James lifted their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Company 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.