Beacon Financial Group Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Beacon Financial Group cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,201 shares of the oil and gas producer’s stock after selling 879 shares during the quarter. Beacon Financial Group’s holdings in Occidental Petroleum were worth $455,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OXY. Portfolio Design Labs LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $209,000. Stonebridge Financial Group LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $75,000. Silicon Valley Capital Partners lifted its holdings in shares of Occidental Petroleum by 23.2% in the fourth quarter. Silicon Valley Capital Partners now owns 17,294 shares of the oil and gas producer’s stock worth $855,000 after buying an additional 3,260 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Occidental Petroleum in the fourth quarter worth $68,000. Finally, Savant Capital LLC grew its stake in Occidental Petroleum by 3.6% during the fourth quarter. Savant Capital LLC now owns 24,407 shares of the oil and gas producer’s stock valued at $1,206,000 after acquiring an additional 840 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.6 %

Shares of OXY opened at $47.83 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $44.88 billion, a price-to-earnings ratio of 12.46 and a beta of 1.55. The company has a 50-day moving average of $49.03 and a 200 day moving average of $51.85. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Analyst Ratings Changes

OXY has been the topic of several research analyst reports. TD Cowen decreased their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Mizuho reduced their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Jefferies Financial Group increased their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group reduced their price objective on 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, Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.71.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, the insider now directly 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 position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 6,854,394 shares of company stock valued at $315,101,532. Corporate insiders own 0.31% of the company’s stock.

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.