First Trust Direct Indexing L.P. Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

First Trust Direct Indexing L.P. reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,042 shares of the oil and gas producer’s stock after selling 3,115 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Occidental Petroleum were worth $1,033,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. J.W. Cole Advisors Inc. boosted its stake in shares of Occidental Petroleum by 7.1% in the first quarter. J.W. Cole Advisors Inc. now owns 9,167 shares of the oil and gas producer’s stock valued at $596,000 after purchasing an additional 609 shares during the period. Mission Wealth Management LP boosted its stake in shares of Occidental Petroleum by 34.6% in the first quarter. Mission Wealth Management LP now owns 4,865 shares of the oil and gas producer’s stock valued at $316,000 after purchasing an additional 1,251 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Occidental Petroleum by 34.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,495 shares of the oil and gas producer’s stock valued at $8,152,000 after purchasing an additional 33,453 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Occidental Petroleum by 9.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,001 shares of the oil and gas producer’s stock valued at $1,235,000 after purchasing an additional 1,602 shares during the period. Finally, Tobam boosted its stake in shares of Occidental Petroleum by 89.4% in the first quarter. Tobam now owns 15,486 shares of the oil and gas producer’s stock valued at $1,006,000 after purchasing an additional 7,310 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on OXY shares. Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Bank of America started coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. Mizuho reduced their price objective 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, Barclays reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Performance

Shares of OXY opened at $49.57 on Friday. Occidental Petroleum Co. has a 52-week low of $49.51 and a 52-week 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 firm has a 50-day moving average price of $52.82 and a 200 day moving average price of $58.63. The firm has a market capitalization of $44.89 billion, a PE ratio of 12.21 and a beta of 1.57.

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. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Occidental Petroleum

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 shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.31% 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.