Graphene Investments SAS Sells 5,300 Shares of Occidental Petroleum Co. (NYSE:OXY)

Graphene Investments SAS lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,100 shares of the oil and gas producer’s stock after selling 5,300 shares during the period. Graphene Investments SAS’s holdings in Occidental Petroleum were worth $2,920,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Occidental Petroleum by 1.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 83,984 shares of the oil and gas producer’s stock valued at $4,150,000 after purchasing an additional 1,321 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $3,447,000. McHugh Group LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $938,000. Silver Oak Securities Incorporated bought a new stake in Occidental Petroleum in the fourth quarter valued at $210,000. Finally, Choreo LLC increased its position in Occidental Petroleum by 3.5% during the 4th quarter. Choreo LLC now owns 61,770 shares of the oil and gas producer’s stock valued at $3,014,000 after purchasing an additional 2,084 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OXY shares. Truist Financial lifted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup cut their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Wolfe Research upped their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price objective on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.71.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $46.95 on Friday. The firm has a market cap of $44.05 billion, a price-to-earnings ratio of 12.23 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 firm has a fifty day moving average price of $49.25 and a 200 day moving average price of $52.27.

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.