Keene & Associates Inc. Grows Stake in Occidental Petroleum Co. (NYSE:OXY)

Keene & Associates Inc. grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,389 shares of the oil and gas producer’s stock after acquiring an additional 1,250 shares during the quarter. Keene & Associates Inc.’s holdings in Occidental Petroleum were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OXY. Fortitude Family Office LLC raised its holdings 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 purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the third quarter worth $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the third quarter worth $50,000. New Wave Wealth Advisors LLC purchased a new position in Occidental Petroleum during the fourth quarter valued at $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $68,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OXY. Piper Sandler lowered their price target on shares of 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 raised their price objective 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. Wolfe Research upped their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Finally, Jefferies Financial Group increased their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Trading Up 1.9 %

Shares of OXY stock opened at $48.98 on Wednesday. The stock has a fifty day simple moving average of $49.01 and a two-hundred day simple moving average of $51.45. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The firm has a market capitalization of $45.96 billion, a PE ratio of 12.75 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 (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 15.98% and a net margin of 15.89%. On average, analysts predict that Occidental Petroleum Co. will post 3.34 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 6,854,394 shares of company stock worth $315,101,532 over the last quarter. 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.