Spirit of America Management Corp NY Sells 4,500 Shares of Occidental Petroleum Co. (NYSE:OXY)

Spirit of America Management Corp NY cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 10.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,600 shares of the oil and gas producer’s stock after selling 4,500 shares during the period. Spirit of America Management Corp NY’s holdings in Occidental Petroleum were worth $1,808,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Czech National Bank raised 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 acquiring an additional 10,456 shares during the last quarter. True North Advisors LLC raised its stake in shares of Occidental Petroleum by 44.2% during the third quarter. True North Advisors LLC now owns 6,272 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 1,923 shares during the last quarter. Royal Fund Management LLC raised its stake in shares of Occidental Petroleum by 124.2% during the third quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer’s stock valued at $2,959,000 after acquiring an additional 31,809 shares during the last quarter. Northstar Group Inc. raised its stake in shares of Occidental Petroleum by 55.1% during the third quarter. Northstar Group Inc. now owns 10,839 shares of the oil and gas producer’s stock valued at $559,000 after acquiring an additional 3,852 shares during the last quarter. Finally, Peirce Capital Management LLC raised its stake in Occidental Petroleum by 22.2% in the third quarter. Peirce Capital Management LLC now owns 4,299 shares of the oil and gas producer’s stock worth $222,000 after buying an additional 782 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OXY has been the subject of a number of research reports. TD Cowen decreased their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Finally, Raymond James increased their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.71.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Trading Up 2.6 %

NYSE:OXY opened at $47.60 on Wednesday. The company’s 50 day moving average price is $49.35 and its 200-day moving average price is $52.41. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a market cap of $44.66 billion, a price-to-earnings ratio of 12.40 and a beta of 1.55.

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.