Spirit of America Management Corp NY Sells 4,500 Shares of Occidental Petroleum Co. (NYSE:OXY)

Spirit of America Management Corp NY reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,600 shares of the oil and gas producer’s stock after selling 4,500 shares during the period. Spirit of America Management Corp NY’s holdings in Occidental Petroleum were worth $1,808,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC increased its position in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $59,000. Finally, Westside Investment Management Inc. increased its position in shares of Occidental Petroleum by 224.0% during the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,075 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY opened at $47.60 on Wednesday. The stock has a 50 day moving average price of $49.35 and a two-hundred day moving average price of $52.41. The firm has a market capitalization of $44.66 billion, a P/E ratio of 12.40 and a beta of 1.55. 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 52 week low of $45.17 and a 52 week high of $71.18.

Analyst Ratings Changes

A number of analysts have recently issued reports on OXY shares. Truist Financial boosted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.71.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.48% 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.