Stephens Inc. AR Purchases 10,382 Shares of Occidental Petroleum Co. (NYSE:OXY)

Stephens Inc. AR lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 221.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,079 shares of the oil and gas producer’s stock after buying an additional 10,382 shares during the quarter. Stephens Inc. AR’s holdings in Occidental Petroleum were worth $777,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OXY. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Occidental Petroleum by 34.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,495 shares of the oil and gas producer’s stock worth $8,152,000 after acquiring an additional 33,453 shares during the period. GSA Capital Partners LLP purchased a new stake in Occidental Petroleum during the 1st quarter valued at approximately $1,009,000. Mediolanum International Funds Ltd bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $1,055,000. Avidian Wealth Solutions LLC bought a new position in shares of Occidental Petroleum during the first quarter worth $206,000. Finally, Mitchell Capital Management Co. grew its stake in Occidental Petroleum by 2.3% during the first quarter. Mitchell Capital Management Co. now owns 103,911 shares of the oil and gas producer’s stock valued at $6,753,000 after acquiring an additional 2,363 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $50.41 on Wednesday. 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 $45.65 billion, a price-to-earnings ratio of 12.42 and a beta of 1.58. The business’s fifty day simple moving average is $52.55 and its two-hundred day simple moving average is $58.30. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

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

Insider Activity

In related 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 transaction, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OXY. Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Bank of America started coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Stephens reissued an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.72.

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.