Foundations Investment Advisors LLC Purchases 670 Shares of Occidental Petroleum Co. (NYSE:OXY)

Foundations Investment Advisors LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 6.7% during the 3rd quarter, Holdings Channel reports. The firm owned 10,668 shares of the oil and gas producer’s stock after buying an additional 670 shares during the period. Foundations Investment Advisors LLC’s holdings in Occidental Petroleum were worth $550,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the 1st quarter worth $44,000. LRI Investments LLC bought a new position in Occidental Petroleum in the first quarter worth about $44,000. Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum in the second quarter worth about $53,000. Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $87,000. Finally, Tobam grew its holdings in shares of Occidental Petroleum by 28.8% during the 3rd quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock worth $98,000 after acquiring an additional 426 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $51.57 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. The company has a market capitalization of $46.70 billion, a price-to-earnings ratio of 12.70 and a beta of 1.57. The stock has a 50-day moving average of $53.59 and a 200 day moving average of $59.40. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OXY shares. Scotiabank dropped their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Mizuho dropped their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Truist Financial decreased their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Finally, StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $65.72.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The stock was 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 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 legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

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.