Occidental Petroleum Co. (NYSE:OXY) Holdings Cut by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 36.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,482 shares of the oil and gas producer’s stock after selling 7,043 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Occidental Petroleum were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Exchange Traded Concepts LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at $87,000. Cornerstone Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at $258,000. Bleakley Financial Group LLC raised its holdings in shares of Occidental Petroleum by 8.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 10,603 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 834 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Occidental Petroleum by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,663 shares of the oil and gas producer’s stock valued at $4,260,000 after purchasing an additional 1,594 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Occidental Petroleum by 71.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 6,050 shares of the oil and gas producer’s stock valued at $312,000 after purchasing an additional 2,531 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the acquisition, the insider now directly owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Raymond James raised their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Stephens raised their target price 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. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $48.13 on Monday. 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’s 50-day simple moving average is $49.00 and its 200-day simple moving average is $51.65. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The firm has a market cap of $45.16 billion, a P/E ratio of 12.53 and a beta of 1.55.

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.