Byrne Asset Management LLC Sells 955 Shares of Occidental Petroleum Co. (NYSE:OXY)

Byrne Asset Management LLC lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 49.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% in 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 last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum during the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter worth about $50,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter valued at about $59,000. Finally, Westside Investment Management Inc. increased its stake in shares of 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 worth $77,000 after purchasing an additional 1,075 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The stock was purchased 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 of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Price Performance

OXY opened at $46.79 on Friday. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The stock has a 50-day moving average price of $49.18 and a 200-day moving average price of $52.23. The firm has a market cap 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 current ratio of 1.00 and a quick ratio of 0.76.

Analysts Set New Price Targets

A number of research firms recently weighed in on OXY. Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. Piper Sandler cut their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Finally, Wolfe Research raised their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price 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.