Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 60.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,545 shares of the oil and gas producer’s stock after buying an additional 3,600 shares during the period. Financial Advocates Investment Management’s holdings in Occidental Petroleum were worth $492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OXY. Mission Wealth Management LP grew its stake in shares of Occidental Petroleum by 34.6% in the first quarter. Mission Wealth Management LP now owns 4,865 shares of the oil and gas producer’s stock worth $316,000 after purchasing an additional 1,251 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Occidental Petroleum by 34.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,495 shares of the oil and gas producer’s stock valued at $8,152,000 after buying an additional 33,453 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Occidental Petroleum by 9.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,001 shares of the oil and gas producer’s stock worth $1,235,000 after buying an additional 1,602 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of Occidental Petroleum by 9.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,850 shares of the oil and gas producer’s stock worth $250,000 after acquiring an additional 329 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Occidental Petroleum by 3.2% in the first quarter. Nordea Investment Management AB now owns 491,805 shares of the oil and gas producer’s stock valued at $31,874,000 after acquiring an additional 15,307 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group dropped their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Stephens restated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, BMO Capital Markets reduced their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Performance

NYSE OXY opened at $49.57 on Friday. The firm’s fifty day moving average price is $52.82 and its two-hundred day moving average price is $58.58. Occidental Petroleum Co. has a 1 year low of $49.51 and a 1 year high of $71.18. The firm has a market capitalization of $44.89 billion, a P/E ratio of 12.21 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.29 EPS 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, 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.