Clarity Financial LLC Purchases Shares of 6,988 Occidental Petroleum Co. (NYSE:OXY)

Clarity Financial LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,988 shares of the oil and gas producer’s stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OXY. Fortitude Family Office LLC increased its position in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $44,000. LRI Investments LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $44,000. Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $53,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at about $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OXY shares. The Goldman Sachs Group started coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Susquehanna lowered their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets lowered their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Two 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Up 2.0 %

NYSE OXY opened at $50.56 on Tuesday. The business has a fifty day moving average price of $52.68 and a two-hundred day moving average price of $58.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The stock has a market capitalization of $45.79 billion, a PE ratio of 12.45 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its 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 analysts’ expectations of $6.93 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’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 directly 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 the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.