Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in Occidental Petroleum Co. (NYSE:OXY) by 1.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 354,977 shares of the oil and gas producer’s stock after selling 6,460 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Occidental Petroleum were worth $17,539,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of 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 worth $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Occidental Petroleum during the fourth quarter valued at approximately $68,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OXY shares. Susquehanna cut their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. TD Cowen cut their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Piper Sandler cut their price objective 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. Mizuho cut their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Raymond James increased 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. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.71.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 6,854,394 shares of company stock worth $315,101,532. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 0.5 %

Shares of Occidental Petroleum stock opened at $48.13 on Friday. The company’s fifty day simple moving average is $49.00 and its 200-day simple moving average is $51.71. The company has a market cap of $45.16 billion, a price-to-earnings ratio of 12.53 and a beta of 1.55. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18.

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.