Livforsakringsbolaget Skandia Omsesidigt Trims Stake in Occidental Petroleum Co. (NYSE:OXY)

Livforsakringsbolaget Skandia Omsesidigt cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 50.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,372 shares of the oil and gas producer’s stock after selling 1,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Occidental Petroleum were worth $68,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Czech National Bank grew its stake in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after buying an additional 10,456 shares during the last quarter. Tobam grew its position in Occidental Petroleum by 28.8% in the 3rd quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock valued at $98,000 after acquiring an additional 426 shares during the last quarter. Bennett Selby Investments LP lifted its position in shares of Occidental Petroleum by 103.6% during the third quarter. Bennett Selby Investments LP now owns 7,703 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 3,919 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Occidental Petroleum by 31.6% during the third quarter. Inspire Investing LLC now owns 5,627 shares of the oil and gas producer’s stock valued at $290,000 after purchasing an additional 1,352 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the 3rd quarter worth about $87,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Performance

Shares of OXY opened at $46.79 on Friday. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The stock has a fifty day moving average price of $49.18 and a 200-day moving average price of $52.23. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market cap of $43.90 billion, a PE ratio of 12.18 and a beta of 1.55.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wolfe Research boosted their price objective 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. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Piper Sandler decreased their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $61.71.

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.