Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 96,372 shares of the oil and gas producer’s stock after selling 3,256 shares during the period. Occidental Petroleum accounts for approximately 1.9% of Financial Partners Group LLC’s portfolio, making the stock its 17th biggest holding. Financial Partners Group LLC’s holdings in Occidental Petroleum were worth $4,967,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. CapWealth Advisors LLC raised its position in shares of Occidental Petroleum by 2.7% during the 1st quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after purchasing an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. lifted its position in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the period. Earnest Partners LLC boosted its stake in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Occidental Petroleum by 0.8% during the 1st quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after purchasing an additional 175 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.0 %

NYSE:OXY opened at $51.35 on Friday. The stock has a market cap of $46.50 billion, a PE ratio of 12.65 and a beta of 1.57. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. 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 stock’s 50-day moving average is $53.71 and its two-hundred day moving average is $59.46.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating 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 the consensus estimate of $6.93 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Bank of America assumed coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Evercore ISI dropped their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Truist Financial reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Wells Fargo & Company dropped their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. 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 given a strong buy rating to the company. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $65.72.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum 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 approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

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.