Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,900 shares of the oil and gas producer’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Occidental Petroleum were worth $1,953,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Schwartz Investment Counsel Inc. grew its holdings in Occidental Petroleum by 28.2% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 277,430 shares of the oil and gas producer’s stock valued at $14,299,000 after buying an additional 61,000 shares in the last quarter. DT Investment Partners LLC grew its holdings in shares of Occidental Petroleum by 16.3% in the third quarter. DT Investment Partners LLC now owns 2,195 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 308 shares during the period. Grimes & Company Inc. grew its holdings in shares of Occidental Petroleum by 7.7% in the third quarter. Grimes & Company Inc. now owns 4,133 shares of the oil and gas producer’s stock valued at $213,000 after purchasing an additional 296 shares during the period. Keene & Associates Inc. raised its stake in Occidental Petroleum by 6.6% during the third quarter. Keene & Associates Inc. now owns 9,139 shares of the oil and gas producer’s stock worth $471,000 after purchasing an additional 567 shares during the period. Finally, Courier Capital LLC boosted its holdings in Occidental Petroleum by 14.5% in the 3rd quarter. Courier Capital LLC now owns 3,940 shares of the oil and gas producer’s stock valued at $203,000 after purchasing an additional 500 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $50.08 on Wednesday. The stock’s 50-day moving average is $53.21 and its two-hundred day moving average is $58.89. 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 company has a market cap of $45.35 billion, a price-to-earnings ratio of 12.33 and a beta of 1.57. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Co. will post 3.31 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on 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 transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on OXY. Truist Financial reduced 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 report on Monday, September 30th. UBS Group decreased their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Stephens reissued an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. Scotiabank decreased their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Bank of America began coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued 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 a consensus rating of “Hold” and a consensus price target 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.