Outlook Wealth Advisors LLC cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 30.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,856 shares of the oil and gas producer’s stock after selling 3,516 shares during the period. Outlook Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $349,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in OXY. First Trust Advisors LP increased its position in shares of Occidental Petroleum by 91.2% in the first quarter. First Trust Advisors LP now owns 1,058,169 shares of the oil and gas producer’s stock worth $70,051,000 after purchasing an additional 504,837 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of Occidental Petroleum in the first quarter worth approximately $46,000. Clearbridge Investments LLC increased its position in shares of Occidental Petroleum by 20.5% in the first quarter. Clearbridge Investments LLC now owns 61,097 shares of the oil and gas producer’s stock worth $4,045,000 after purchasing an additional 10,379 shares during the last quarter. Weaver Consulting Group bought a new position in shares of Occidental Petroleum in the first quarter worth approximately $69,000. Finally, Park National Corp OH increased its position in shares of Occidental Petroleum by 12.0% in the second quarter. Park National Corp OH now owns 34,631 shares of the oil and gas producer’s stock worth $1,741,000 after purchasing an additional 3,701 shares during the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
Several research firms recently weighed in on OXY. Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $52.50 price objective on the stock. Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. Susquehanna Bancshares began coverage on shares of Occidental Petroleum in a research report on Thursday, September 5th. They issued a “positive” rating and a $55.00 price objective on the stock. Finally, Barclays started coverage on shares of Occidental Petroleum in a research report on Monday, August 19th. They issued an “equal weight” rating and a $61.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $61.55.
OXY traded up $0.44 during midday trading on Friday, hitting $40.77. The stock had a trading volume of 4,379,406 shares, compared to its average volume of 7,160,862. The company has a market cap of $30.53 billion, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 2.87 and a beta of 0.84. The business has a fifty day moving average of $43.89 and a 200 day moving average of $50.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.00 and a current ratio of 1.20. Occidental Petroleum Co. has a 1 year low of $39.97 and a 1 year high of $75.79.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.39 billion. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. Occidental Petroleum’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 earnings per share. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 2.8 earnings per share for the current year.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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