Courier Capital LLC Boosts Position in Occidental Petroleum Co. (NYSE:OXY)

Courier Capital LLC raised its position in Occidental Petroleum Co. (NYSE:OXY) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,940 shares of the oil and gas producer’s stock after buying an additional 500 shares during the quarter. Courier Capital LLC’s holdings in Occidental Petroleum were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. increased its holdings in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum during the first quarter valued at $44,000. LRI Investments LLC acquired a new stake in shares of Occidental Petroleum during the first quarter valued at $44,000. Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum during the second quarter valued at $53,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum during the third quarter valued at $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Scotiabank decreased their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Susquehanna reduced their price objective on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Mizuho dropped their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial dropped their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $65.72.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was 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 Trading Up 0.0 %

Shares of OXY stock opened at $51.35 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18. The stock has a fifty day moving average of $53.71 and a two-hundred day moving average of $59.46. The firm has a market capitalization of $46.50 billion, a PE ratio of 12.65 and a beta of 1.57.

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

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.