Ping Capital Management Inc. Increases Position in Occidental Petroleum Co. (NYSE:OXY)

Ping Capital Management Inc. boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,000 shares of the oil and gas producer’s stock after purchasing an additional 1,000 shares during the quarter. Ping Capital Management Inc.’s holdings in Occidental Petroleum were worth $741,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $50,000. New Wave Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $59,000. Finally, Westside Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 224.0% in the 4th quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent research reports. Citigroup lowered 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. Raymond James raised their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Wolfe Research increased their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Mizuho cut their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $61.71.

Occidental Petroleum Stock Up 2.6 %

Shares of NYSE:OXY opened at $47.60 on Wednesday. The firm has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $52.41. The company has a market cap of $44.66 billion, a PE ratio of 12.40 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 debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

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.