Ingalls & Snyder LLC Has $7.95 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Ingalls & Snyder LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 160,968 shares of the oil and gas producer’s stock after selling 14,770 shares during the quarter. Ingalls & Snyder LLC’s holdings in Occidental Petroleum were worth $7,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake 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. acquired a new stake in Occidental Petroleum in the 3rd quarter worth about $32,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $68,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OXY. UBS Group cut their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Piper Sandler cut their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Mizuho cut their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Three 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.71.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders bought 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Down 1.6 %

Occidental Petroleum stock opened at $47.83 on Thursday. 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 Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The firm has a 50 day moving average price of $49.03 and a two-hundred day moving average price of $51.85. The firm has a market cap of $44.88 billion, a price-to-earnings ratio of 12.46 and a beta of 1.55.

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.