Smithbridge Asset Management Inc. DE Grows Position in Occidental Petroleum Co. (NYSE:OXY)

Smithbridge Asset Management Inc. DE lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 78.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 73,616 shares of the oil and gas producer’s stock after purchasing an additional 32,369 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Occidental Petroleum were worth $3,794,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carret Asset Management LLC increased its position in shares of Occidental Petroleum by 52.0% in the third quarter. Carret Asset Management LLC now owns 8,581 shares of the oil and gas producer’s stock worth $442,000 after acquiring an additional 2,935 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Occidental Petroleum by 138.4% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 41,030 shares of the oil and gas producer’s stock worth $2,115,000 after purchasing an additional 23,816 shares during the period. PFG Investments LLC increased its holdings in Occidental Petroleum by 13.7% in the 3rd quarter. PFG Investments LLC now owns 20,163 shares of the oil and gas producer’s stock valued at $1,039,000 after purchasing an additional 2,436 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Occidental Petroleum by 8.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,729 shares of the oil and gas producer’s stock valued at $2,027,000 after purchasing an additional 3,138 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Occidental Petroleum by 0.8% during the third quarter. Louisiana State Employees Retirement System now owns 37,900 shares of the oil and gas producer’s stock worth $1,953,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OXY shares. Barclays dropped their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Mizuho lowered their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. BMO Capital Markets decreased their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company lowered their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Finally, UBS Group reduced their price target 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 equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.72.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred 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 sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $0.84 during trading on Monday, hitting $50.74. 1,816,231 shares of the company traded hands, compared to its average volume of 9,101,142. The stock has a market capitalization of $44.99 billion, a price-to-earnings ratio of 14.09 and a beta of 1.57. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average is $53.46 and its 200-day moving average is $59.15.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $6.93 billion. During the same period last year, the business posted $0.68 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.31 earnings per share for the current fiscal year.

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.