McHugh Group LLC Acquires Shares of 18,983 Occidental Petroleum Co. (NYSE:OXY)

McHugh Group LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,983 shares of the oil and gas producer’s stock, valued at approximately $938,000. Occidental Petroleum makes up 0.7% of McHugh Group LLC’s investment portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Certified Advisory Corp acquired a new position in shares of Occidental Petroleum in the fourth quarter worth $476,000. Rule One Partners LLC purchased a new position in shares of Occidental Petroleum during the third quarter worth about $14,199,000. Stephens Inc. AR increased its position in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 10,382 shares during the period. Sarasin & Partners LLP boosted its stake in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of Occidental Petroleum during the third quarter worth about $2,509,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business’s stock in a transaction that occurred 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 purchase, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OXY. TD Cowen reduced their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Bank of America initiated coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Finally, Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Trading Down 0.5 %

Shares of OXY stock opened at $47.36 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The firm’s fifty day simple moving average is $49.25 and its 200 day simple moving average is $52.27. The firm has a market capitalization of $44.44 billion, a P/E ratio of 12.33 and a beta of 1.55.

Occidental Petroleum 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.