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

Hartford Investment Management Co. lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Czech National Bank lifted its stake in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after acquiring an additional 10,456 shares during the period. Discovery Capital Management LLC CT bought a new position in Occidental Petroleum in the second quarter valued at approximately $10,331,000. Empyrean Capital Partners LP acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $2,975,000. Swedbank AB bought a new position in Occidental Petroleum in the first quarter valued at $12,547,000. Finally, Royal Fund Management LLC grew its stake in shares of Occidental Petroleum by 124.2% in the third quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer’s stock valued at $2,959,000 after buying an additional 31,809 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. The Goldman Sachs Group started coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Susquehanna decreased their target price on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Barclays reduced their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Evercore ISI dropped their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Stock Performance

Shares of OXY opened at $51.35 on Friday. The stock has a 50-day moving average of $53.71 and a 200-day moving average of $59.46. Occidental Petroleum Co. has a one year low of $49.75 and a one year 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 company has a market cap of $46.50 billion, a PE ratio of 12.65 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research 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 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 completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. 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 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.