Grimes & Company Inc. Has $213,000 Holdings in Occidental Petroleum Co. (NYSE:OXY)

Grimes & Company Inc. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,133 shares of the oil and gas producer’s stock after acquiring an additional 296 shares during the quarter. Grimes & Company Inc.’s holdings in Occidental Petroleum were worth $213,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OXY. Brookstone Capital Management increased its position in shares of Occidental Petroleum by 32.2% in the 1st quarter. Brookstone Capital Management now owns 16,410 shares of the oil and gas producer’s stock valued at $1,066,000 after buying an additional 3,995 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the first quarter worth about $274,000. Fox Hill Wealth Management raised its position in shares of Occidental Petroleum by 3.0% during the first quarter. Fox Hill Wealth Management now owns 9,896 shares of the oil and gas producer’s stock worth $643,000 after purchasing an additional 290 shares during the period. Avalon Capital Management bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $317,000. Finally, Financial Partners Group LLC grew its position in shares of Occidental Petroleum by 0.8% in the 1st quarter. Financial Partners Group LLC now owns 98,496 shares of the oil and gas producer’s stock valued at $6,401,000 after purchasing an additional 801 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.4 %

Shares of NYSE:OXY opened at $51.57 on Friday. The company has a 50-day simple moving average of $53.59 and a 200 day simple moving average of $59.40. The company has a market capitalization of $46.70 billion, a P/E ratio of 12.70 and a beta of 1.57. 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 52-week low of $49.75 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $6.93 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.31 earnings per share for the current year.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction 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 approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets cut their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Mizuho lowered their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Susquehanna cut their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, UBS Group decreased their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum 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.