Sumitomo Mitsui Trust Group Inc. Sells 25,878 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,456,171 shares of the oil and gas producer’s stock after selling 25,878 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Occidental Petroleum were worth $71,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Occidental Petroleum Trading Down 0.4 %

OXY opened at $46.79 on Monday. The company’s 50 day moving average is $49.10 and its 200-day moving average is $52.08. The company has a market cap of $43.91 billion, a P/E ratio of 12.18 and a beta of 1.55. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James upped their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Piper Sandler lowered their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. UBS Group cut their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Bank of America assumed coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.