Beacon Financial Group Sells 879 Shares of Occidental Petroleum Co. (NYSE:OXY)

Beacon Financial Group trimmed its stake in Occidental Petroleum Co. (NYSE:OXY) by 8.7% in the 4th quarter, HoldingsChannel reports. The fund owned 9,201 shares of the oil and gas producer’s stock after selling 879 shares during the quarter. Beacon Financial Group’s holdings in Occidental Petroleum were worth $455,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Occidental Petroleum by 124.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,772 shares of the oil and gas producer’s stock valued at $143,000 after buying an additional 1,535 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Occidental Petroleum by 31.6% during the 3rd quarter. Inspire Investing LLC now owns 5,627 shares of the oil and gas producer’s stock worth $290,000 after acquiring an additional 1,352 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum during the third quarter valued at approximately $87,000. Swedbank AB boosted its stake in Occidental Petroleum by 50.7% in the third quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer’s stock valued at $14,537,000 after acquiring an additional 94,856 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in Occidental Petroleum by 108.4% in the third quarter. Jamison Private Wealth Management Inc. now owns 6,367 shares of the oil and gas producer’s stock worth $328,000 after purchasing an additional 3,312 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 1.6 %

Shares of NYSE:OXY opened at $47.83 on Thursday. The company has a market capitalization of $44.88 billion, a PE ratio of 12.46 and a beta of 1.55. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The business has a 50 day moving average of $49.03 and a two-hundred day moving average of $51.85. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 6,854,394 shares of company stock worth $315,101,532 in the last three months. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Stephens increased their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wolfe Research boosted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Mizuho decreased their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Citigroup dropped their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.71.

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.