McHugh Group LLC Takes Position in Occidental Petroleum Co. (NYSE:OXY)

McHugh Group LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,983 shares of the oil and gas producer’s stock, valued at approximately $938,000. Occidental Petroleum comprises approximately 0.7% of McHugh Group LLC’s portfolio, making the stock its 25th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum during the 3rd quarter worth about $50,000. New Wave Wealth Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $59,000. Finally, Westside Investment Management Inc. grew its stake in shares of Occidental Petroleum by 224.0% in the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,075 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of several research reports. Raymond James raised their price target on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Jefferies Financial Group upped their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Finally, Stephens raised their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $61.71.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $47.36 on Thursday. The company has a market capitalization of $44.44 billion, a P/E ratio of 12.33 and a beta of 1.55. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a 50 day moving average price of $49.25 and a two-hundred day moving average price of $52.27.

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.