Ingalls & Snyder LLC Sells 14,770 Shares of Occidental Petroleum Co. (NYSE:OXY)

Ingalls & Snyder LLC lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,968 shares of the oil and gas producer’s stock after selling 14,770 shares during the quarter. Ingalls & Snyder LLC’s holdings in Occidental Petroleum were worth $7,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Segment Wealth Management LLC grew its position in Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after acquiring an additional 196 shares during the period. Wealth Alliance Advisory Group LLC increased its position in shares of Occidental Petroleum by 2.2% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock worth $474,000 after purchasing an additional 200 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares during the last quarter. Empire Financial Management Company LLC boosted its position in Occidental Petroleum by 4.1% in the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after buying an additional 250 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 250 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 1.6 %

Shares of NYSE:OXY opened at $47.83 on Thursday. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The stock has a market capitalization of $44.88 billion, a PE ratio of 12.46 and a beta of 1.55. 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 company’s 50-day moving average price is $49.03 and its two-hundred day moving average price is $51.85.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OXY shares. Citigroup cut their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Piper Sandler cut their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Raymond James increased their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Stephens increased their price target 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. Finally, Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Company 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.