Occidental Petroleum Co. (NYSE:OXY) Stock Position Reduced by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,042 shares of the oil and gas producer’s stock after selling 3,115 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Occidental Petroleum were worth $1,033,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum in the third quarter worth $87,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Occidental Petroleum in the second quarter worth $110,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OXY shares. BMO Capital Markets dropped their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Susquehanna dropped their target price on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. UBS Group dropped their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Bank of America started coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Down 1.1 %

OXY opened at $49.57 on Friday. The firm’s 50-day simple moving average is $52.82 and its 200-day simple moving average is $58.63. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a twelve month low of $49.51 and a twelve month high of $71.18. The firm has a market cap of $44.89 billion, a price-to-earnings ratio of 12.21 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. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by insiders.

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.