Lodestone Wealth Management LLC Grows Position in Occidental Petroleum Co. (NYSE:OXY)

Lodestone Wealth Management LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,610 shares of the oil and gas producer’s stock after purchasing an additional 1,643 shares during the period. Occidental Petroleum comprises approximately 1.3% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Lodestone Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,501,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Intrinsic Value Partners LLC boosted its position in Occidental Petroleum by 17.4% in the 4th quarter. Intrinsic Value Partners LLC now owns 45,045 shares of the oil and gas producer’s stock worth $2,226,000 after purchasing an additional 6,675 shares in the last quarter. Quadrant Private Wealth Management LLC raised its stake in shares of Occidental Petroleum by 1.3% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 44,039 shares of the oil and gas producer’s stock worth $2,186,000 after buying an additional 547 shares during the period. Littlejohn Financial Services Inc. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $349,000. Life Planning Partners Inc acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $1,485,000. Finally, Avestar Capital LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $225,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OXY shares. Wolfe Research upped their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Susquehanna reduced 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. Jefferies Financial Group upped their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Wells Fargo & Company reduced their target price on 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. Three 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $61.71.

Occidental Petroleum Stock Up 0.5 %

Shares of OXY opened at $48.13 on Friday. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The company has a market capitalization of $45.16 billion, a PE ratio of 12.53 and a beta of 1.55. The stock has a fifty day simple moving average of $48.99 and a two-hundred day simple moving average of $51.79. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the acquisition, the insider now owns 257,758,886 shares in the company, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 6,854,394 shares of company stock valued at $315,101,532 in the last three months. 0.31% of the stock is currently owned by insiders.

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.