Lake Street Private Wealth LLC Sells 1,870 Shares of Occidental Petroleum Co. (NYSE:OXY)

Lake Street Private Wealth LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 22.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,574 shares of the oil and gas producer’s stock after selling 1,870 shares during the period. Lake Street Private Wealth LLC’s holdings in Occidental Petroleum were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its stake in shares of Occidental Petroleum by 11.7% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 10,150 shares of the oil and gas producer’s stock valued at $523,000 after buying an additional 1,062 shares during the period. Lazari Capital Management Inc. grew its holdings in Occidental Petroleum by 6.6% during the 3rd quarter. Lazari Capital Management Inc. now owns 12,001 shares of the oil and gas producer’s stock worth $619,000 after acquiring an additional 745 shares in the last quarter. Segment Wealth Management LLC increased its position in Occidental Petroleum by 5.2% during the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after purchasing an additional 196 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of Occidental Petroleum by 6.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 10,668 shares of the oil and gas producer’s stock valued at $550,000 after purchasing an additional 670 shares in the last quarter. Finally, Jade Capital Advisors LLC boosted its stake in shares of Occidental Petroleum by 50.0% during the third quarter. Jade Capital Advisors LLC now owns 30,000 shares of the oil and gas producer’s stock valued at $1,546,000 after purchasing an additional 10,000 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on OXY shares. Wells Fargo & Company lowered their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Barclays decreased their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Susquehanna reduced their target price on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a report on Friday, October 18th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target on the stock. Finally, Scotiabank reduced their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $51.32 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The business has a 50 day simple moving average of $53.71 and a two-hundred day simple moving average of $59.46. The stock has a market capitalization of $45.50 billion, a P/E ratio of 14.02 and a beta of 1.57. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, analysts predict that Occidental Petroleum Co. will post 3.43 EPS for the current fiscal 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.