Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 62.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,180 shares of the oil and gas producer’s stock after acquiring an additional 6,212 shares during the period. Kestra Private Wealth Services LLC’s holdings in Occidental Petroleum were worth $799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Fortitude Family Office LLC raised its stake in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum in the 3rd quarter worth $50,000. New Wave Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter worth about $59,000. Finally, Westside Investment Management Inc. boosted its holdings in Occidental Petroleum by 224.0% in the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,075 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OXY shares. Raymond James upped their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wolfe Research boosted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Piper Sandler reduced their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Stephens boosted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.71.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were 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 directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 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 corporate insiders.

Occidental Petroleum Price Performance

NYSE OXY opened at $48.13 on Friday. The company has a 50-day moving average price of $48.99 and a two-hundred day moving average price of $51.79. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The stock has a market cap of $45.16 billion, a price-to-earnings ratio of 12.53 and a beta of 1.55. 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 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.