Private Advisor Group LLC Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Private Advisor Group LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 18.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 81,687 shares of the oil and gas producer’s stock after selling 18,870 shares during the quarter. Private Advisor Group LLC’s holdings in Occidental Petroleum were worth $4,210,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OXY. American Century Companies Inc. increased its holdings in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the period. Epoch Investment Partners Inc. raised its holdings in Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after acquiring an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum in the second quarter worth approximately $92,433,000. Cooke & Bieler LP grew its holdings in Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after acquiring an additional 503,173 shares in the last quarter. Finally, Clean Energy Transition LLP purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $67,601,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Up 0.4 %

Occidental Petroleum stock opened at $51.58 on Monday. The stock has a 50 day moving average of $53.46 and a two-hundred day moving average of $59.15. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18. The stock has a market capitalization of $45.73 billion, a price-to-earnings ratio of 14.09 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. As a group, research analysts expect that Occidental Petroleum Co. will post 3.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OXY shares. Wolfe Research initiated coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price for the company. UBS Group cut their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Scotiabank lowered their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Evercore ISI cut their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.72.

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.