Mechanics Bank Trust Department raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 26.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,746 shares of the oil and gas producer’s stock after acquiring an additional 1,200 shares during the quarter. Mechanics Bank Trust Department’s holdings in Occidental Petroleum were worth $255,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Moody National Bank Trust Division bought a new position in Occidental Petroleum in the 3rd quarter valued at about $955,000. Garrett Wealth Advisory Group LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at about $84,000. Brookstone Capital Management raised its holdings in Occidental Petroleum by 9.4% in the 3rd quarter. Brookstone Capital Management now owns 11,598 shares of the oil and gas producer’s stock valued at $516,000 after acquiring an additional 999 shares during the period. New Jersey Better Educational Savings Trust raised its holdings in Occidental Petroleum by 35.2% in the 3rd quarter. New Jersey Better Educational Savings Trust now owns 6,760 shares of the oil and gas producer’s stock valued at $301,000 after acquiring an additional 1,760 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Occidental Petroleum by 20.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 206,006 shares of the oil and gas producer’s stock valued at $9,161,000 after acquiring an additional 34,560 shares during the period. 85.26% of the stock is currently owned by hedge funds and other institutional investors.
In other Occidental Petroleum news, Director Bob Shearer purchased 15,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $50.22 per share, with a total value of $753,300.00. Following the completion of the purchase, the director now owns 19,218 shares of the company’s stock, valued at $965,127.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William R. Klesse bought 5,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $45.54 per share, with a total value of $227,700.00. Following the purchase, the director now directly owns 101,203 shares of the company’s stock, valued at $4,608,784.62. The disclosure for this purchase can be found here. Insiders have bought 38,500 shares of company stock valued at $1,793,075 in the last ninety days. Insiders own 0.15% of the company’s stock.
OXY has been the topic of several research analyst reports. Piper Jaffray Companies set a $59.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Friday, August 16th. Wells Fargo & Co lowered their price target on shares of Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. SunTrust Banks initiated coverage on shares of Occidental Petroleum in a report on Monday, September 23rd. They issued a “hold” rating and a $48.00 price target on the stock. Raymond James lowered their price target on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Occidental Petroleum in a report on Tuesday, August 13th. They issued an “underweight” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.55.
NYSE OXY opened at $40.45 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $30.18 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 2.90 and a beta of 0.84. The firm’s 50 day simple moving average is $43.84 and its 200 day simple moving average is $50.83. Occidental Petroleum Co. has a 1 year low of $39.97 and a 1 year high of $75.79.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Occidental Petroleum Co. will post 2.49 earnings per share 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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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