Byrne Asset Management LLC Trims Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Byrne Asset Management LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 49.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 984 shares of the oil and gas producer’s stock after selling 955 shares during the quarter. Byrne Asset Management LLC’s holdings in Occidental Petroleum were worth $48,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of OXY. Cidel Asset Management Inc. lifted its holdings in Occidental Petroleum by 15.7% in the 4th quarter. Cidel Asset Management Inc. now owns 6,389 shares of the oil and gas producer’s stock worth $316,000 after purchasing an additional 867 shares in the last quarter. Woodward Diversified Capital LLC grew its stake in Occidental Petroleum by 17.3% during the fourth quarter. Woodward Diversified Capital LLC now owns 7,741 shares of the oil and gas producer’s stock valued at $382,000 after acquiring an additional 1,144 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Occidental Petroleum by 1.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 83,984 shares of the oil and gas producer’s stock valued at $4,150,000 after acquiring an additional 1,321 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $3,447,000. Finally, McHugh Group LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth about $938,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $46.79 on Friday. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. The company has a market capitalization of $43.90 billion, a PE ratio of 12.18 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a 50-day simple moving average of $49.18 and a two-hundred day simple moving average of $52.23.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Susquehanna reduced their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company dropped their price objective 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. UBS Group decreased their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Wolfe Research lifted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus 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.