Intellectus Partners LLC Has $800,000 Position in Occidental Petroleum Corporation $OXY

Intellectus Partners LLC lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,927 shares of the oil and gas producer’s stock after selling 2,124 shares during the quarter. Intellectus Partners LLC’s holdings in Occidental Petroleum were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sigma Planning Corp raised its position in Occidental Petroleum by 2.6% during the second quarter. Sigma Planning Corp now owns 13,710 shares of the oil and gas producer’s stock valued at $576,000 after acquiring an additional 341 shares in the last quarter. State of Michigan Retirement System raised its position in Occidental Petroleum by 11.4% during the second quarter. State of Michigan Retirement System now owns 204,039 shares of the oil and gas producer’s stock valued at $8,572,000 after acquiring an additional 20,800 shares in the last quarter. swisspartners Advisors Ltd raised its position in Occidental Petroleum by 8.0% during the second quarter. swisspartners Advisors Ltd now owns 131,360 shares of the oil and gas producer’s stock valued at $5,512,000 after acquiring an additional 9,680 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its position in Occidental Petroleum by 1.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 359,488 shares of the oil and gas producer’s stock valued at $15,103,000 after acquiring an additional 5,935 shares in the last quarter. Finally, Uniting Wealth Partners LLC raised its position in Occidental Petroleum by 7.2% during the second quarter. Uniting Wealth Partners LLC now owns 12,373 shares of the oil and gas producer’s stock valued at $520,000 after acquiring an additional 836 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on OXY. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price objective for the company from $48.00 to $55.00 in a research report on Friday, October 3rd. Roth Capital lifted their price target on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Morgan Stanley reissued an “equal weight” rating and issued a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. Finally, UBS Group dropped their price target on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.26.

Occidental Petroleum Trading Down 0.6%

Shares of OXY stock opened at $40.94 on Tuesday. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The firm’s fifty day simple moving average is $44.76 and its 200 day simple moving average is $43.66. The firm has a market capitalization of $40.30 billion, a P/E ratio of 24.23 and a beta of 0.95. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Occidental Petroleum’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

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.