Empowered Funds LLC Has $10.47 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Empowered Funds LLC boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,897 shares of the oil and gas producer’s stock after purchasing an additional 2,917 shares during the quarter. Empowered Funds LLC’s holdings in Occidental Petroleum were worth $10,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Segment Wealth Management LLC grew its stake in shares of 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 in the last quarter. Wealth Alliance Advisory Group LLC grew 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. increased its holdings in shares of Occidental Petroleum by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock worth $323,000 after purchasing an additional 200 shares during the period. Empire Financial Management Company LLC boosted its stake in shares of 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 during the period. Finally, Park Avenue Securities LLC grew its position 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 in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $46.79 on Monday. The firm has a market cap of $43.91 billion, a PE ratio of 12.18 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 firm’s fifty day moving average is $49.10 and its 200-day moving average is $52.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Analyst Ratings Changes

Several brokerages have weighed in on OXY. Jefferies Financial Group lifted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Susquehanna cut their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Wolfe Research boosted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen reduced 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 report on Tuesday, November 12th. Finally, Citigroup lowered their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.71.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

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.