Murphy Pohlad Asset Management LLC Invests $593,000 in Occidental Petroleum Co. (NYSE:OXY)

Murphy Pohlad Asset Management LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,500 shares of the oil and gas producer’s stock, valued at approximately $593,000.

A number of other large investors have also recently made changes to their positions in the company. Focus Financial Network Inc. increased its stake in shares of Occidental Petroleum by 19.6% during the third quarter. Focus Financial Network Inc. now owns 5,130 shares of the oil and gas producer’s stock worth $265,000 after buying an additional 841 shares during the period. Stephens Inc. AR increased its stake in shares of Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 10,382 shares during the period. Palumbo Wealth Management LLC increased its stake in shares of Occidental Petroleum by 22.9% during the third quarter. Palumbo Wealth Management LLC now owns 25,458 shares of the oil and gas producer’s stock worth $1,312,000 after buying an additional 4,742 shares during the period. Financial Advocates Investment Management increased its stake in shares of Occidental Petroleum by 60.6% during the third quarter. Financial Advocates Investment Management now owns 9,545 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 3,600 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in shares of Occidental Petroleum by 7.8% during the third quarter. Diversify Wealth Management LLC now owns 12,153 shares of the oil and gas producer’s stock worth $624,000 after buying an additional 884 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum 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 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 owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $49.57 on Friday. 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 stock has a fifty day moving average price of $52.82 and a 200 day moving average price of $58.63. Occidental Petroleum Co. has a 1-year low of $49.51 and a 1-year high of $71.18. The company has a market cap of $44.89 billion, a PE ratio of 12.21 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last issued its quarterly 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 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 the consensus estimate of $6.93 billion. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America assumed coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. UBS Group dropped their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Barclays dropped 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. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Stephens reiterated an “overweight” rating and issued a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $65.72.

About Occidental Petroleum

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.