Lodestone Wealth Management LLC Lowers Holdings in Occidental Petroleum Co. (NYSE:OXY)

Lodestone Wealth Management LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.4% in the 3rd quarter, Holdings Channel reports. The fund owned 48,967 shares of the oil and gas producer’s stock after selling 1,194 shares during the period. Occidental Petroleum makes up 1.2% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Lodestone Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,524,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Fortitude Family Office LLC grew its stake in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum during the first quarter worth $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum during the first quarter valued at $44,000. Strategic Financial Concepts LLC purchased a new position in Occidental Petroleum in the second quarter valued at $53,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Occidental Petroleum in the third quarter worth about $87,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

NYSE OXY opened at $49.57 on Friday. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The firm has a market capitalization of $44.89 billion, a P/E ratio of 12.21 and a beta of 1.58. The stock’s fifty day moving average is $52.82 and its two-hundred day moving average is $58.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm earned $0.68 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on OXY. Wells Fargo & Company dropped their target price 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. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Evercore ISI dropped their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Finally, Stephens reissued an “overweight” rating and issued a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.