Hartford Investment Management Co. Has $2.18 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Hartford Investment Management Co. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,268 shares of the oil and gas producer’s stock after selling 254 shares during the period. Hartford Investment Management Co.’s holdings in Occidental Petroleum were worth $2,178,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Ballentine Partners LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $216,000. Global Assets Advisory LLC bought a new position in Occidental Petroleum in the 1st quarter worth $1,527,000. Brookstone Capital Management lifted its position in Occidental Petroleum by 32.2% during the 1st quarter. Brookstone Capital Management now owns 16,410 shares of the oil and gas producer’s stock worth $1,066,000 after acquiring an additional 3,995 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Occidental Petroleum during the first quarter valued at about $274,000. Finally, Grimes & Company Inc. acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $204,000. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Scotiabank cut their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group reduced their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Finally, Mizuho reduced their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $51.35 on Friday. 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’s fifty day moving average price is $53.71 and its two-hundred day moving average price is $59.46. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 12.65 and a beta of 1.57.

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

Insider Transactions 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 value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.