Strategic Financial Concepts LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Strategic Financial Concepts LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 69,763 shares of the oil and gas producer’s stock, valued at approximately $3,447,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OXY. Segment Wealth Management LLC increased its position in Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after buying an additional 196 shares during the period. Wealth Alliance Advisory Group LLC raised its stake in Occidental Petroleum by 2.2% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after purchasing an additional 200 shares during the last quarter. Leavell Investment Management Inc. raised its stake in Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares during the last quarter. Empire Financial Management Company LLC boosted its holdings in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after purchasing an additional 250 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in shares of Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $48.13 on Monday. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The stock has a 50-day simple moving average of $49.00 and a 200 day simple moving average of $51.65. 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 stock has a market capitalization of $45.16 billion, a price-to-earnings ratio of 12.53 and a beta of 1.55.

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.