Sequoia Financial Advisors LLC Has $1.25 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Sequoia Financial Advisors LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,283 shares of the oil and gas producer’s stock after selling 591 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Occidental Petroleum were worth $1,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the period. Epoch Investment Partners Inc. grew its holdings in Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after buying an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum in the 2nd quarter valued at $92,433,000. Cooke & Bieler LP grew its stake in Occidental Petroleum by 53.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after purchasing an additional 503,173 shares during the period. Finally, Clean Energy Transition LLP bought a new position in Occidental Petroleum in the 1st quarter valued at $67,601,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of recent analyst reports. Mizuho reduced their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. UBS Group dropped their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Stephens reissued an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, Susquehanna dropped their price objective on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Trading Up 0.4 %

Shares of NYSE:OXY opened at $51.57 on Friday. The company has a market cap 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 current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18. The stock’s fifty day moving average price is $53.59 and its 200-day moving average price is $59.40.

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

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

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.