Focus Financial Network Inc. Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Focus Financial Network Inc. boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,130 shares of the oil and gas producer’s stock after acquiring an additional 841 shares during the quarter. Focus Financial Network Inc.’s holdings in Occidental Petroleum were worth $265,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its stake in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the period. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the 1st quarter worth about $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth approximately $44,000. Strategic Financial Concepts LLC bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $87,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays decreased their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Stephens reiterated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Evercore ISI reduced their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, UBS Group lowered their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.72.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade 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 at this hyperlink. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $49.57 on Monday. The business has a fifty day moving average of $52.82 and a 200 day moving average of $58.53. Occidental Petroleum Co. has a 1 year low of $49.51 and a 1 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 firm has a market capitalization of $44.89 billion, a price-to-earnings ratio of 12.21 and a beta of 1.58.

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 (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

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.