Lodestone Wealth Management LLC Raises Stake in Occidental Petroleum Co. (NYSE:OXY)

Lodestone Wealth Management LLC grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,610 shares of the oil and gas producer’s stock after purchasing an additional 1,643 shares during the quarter. Occidental Petroleum makes up approximately 1.3% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Lodestone Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Intrinsic Value Partners LLC raised its holdings in shares of Occidental Petroleum by 17.4% in the fourth quarter. Intrinsic Value Partners LLC now owns 45,045 shares of the oil and gas producer’s stock valued at $2,226,000 after acquiring an additional 6,675 shares in the last quarter. Quadrant Private Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 1.3% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 44,039 shares of the oil and gas producer’s stock valued at $2,186,000 after acquiring an additional 547 shares in the last quarter. Littlejohn Financial Services Inc. bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $349,000. Life Planning Partners Inc bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $1,485,000. Finally, Avestar Capital LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $225,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $48.13 on Friday. The business’s 50 day moving average price is $48.99 and its 200 day moving average price is $51.79. 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 Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the transaction, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last quarter. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup decreased their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group reduced their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Truist Financial boosted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.