Keene & Associates Inc. Buys 567 Shares of Occidental Petroleum Co. (NYSE:OXY)

Keene & Associates Inc. grew its position in Occidental Petroleum Co. (NYSE:OXY) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,139 shares of the oil and gas producer’s stock after purchasing an additional 567 shares during the quarter. Keene & Associates Inc.’s holdings in Occidental Petroleum were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OXY. Himalaya Capital Management LLC purchased a new position in shares of Occidental Petroleum in the 2nd quarter valued at approximately $92,433,000. Clean Energy Transition LLP purchased a new position in Occidental Petroleum in the 1st quarter worth $67,601,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum during the 2nd quarter worth about $63,880,000. Scharf Investments LLC acquired a new position in shares of Occidental Petroleum in the second quarter valued at about $42,744,000. Finally, American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated 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 sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Trading Down 1.5 %

OXY opened at $51.32 on Thursday. 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’s 50 day simple moving average is $53.71 and its two-hundred day simple moving average is $59.46. The firm has a market capitalization of $45.50 billion, a price-to-earnings ratio of 14.02 and a beta of 1.57. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results 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. 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 firm earned $0.68 earnings per share. Occidental Petroleum’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Occidental Petroleum Co. will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Evercore ISI cut their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Barclays reduced their price objective 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. Bank of America started coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. UBS Group cut their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Stephens restated an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $65.72.

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.