Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Ping Capital Management Inc.

Ping Capital Management Inc. grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the oil and gas producer’s stock after buying an additional 1,000 shares during the period. Ping Capital Management Inc.’s holdings in Occidental Petroleum were worth $741,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. H&H International Investment LLC grew its position in shares of 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. Scharf Investments LLC grew its position in Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after purchasing an additional 805,525 shares during the last quarter. Anson Funds Management LP increased its stake in Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares during the period. Geode Capital Management LLC raised its holdings in shares of Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after buying an additional 444,850 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Occidental Petroleum during the third quarter worth about $18,554,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the transaction, the insider now owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Trading Up 2.6 %

NYSE OXY opened at $47.60 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The company’s 50 day moving average price is $49.35 and its 200 day moving average price is $52.41. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 12.40 and a beta of 1.55.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent research reports. Bank of America initiated coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of 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. UBS Group dropped their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Piper Sandler reduced their price objective on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.71.

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.