Occidental Petroleum Co. (NYSE:OXY) Stake Lifted by Milestones Administradora de Recursos Ltda.

Milestones Administradora de Recursos Ltda. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 151.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,320 shares of the oil and gas producer’s stock after purchasing an additional 105,560 shares during the quarter. Occidental Petroleum comprises approximately 3.6% of Milestones Administradora de Recursos Ltda.’s investment portfolio, making the stock its 7th biggest position. Milestones Administradora de Recursos Ltda.’s holdings in Occidental Petroleum were worth $9,036,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CapWealth Advisors LLC lifted its stake in Occidental Petroleum by 2.7% during the 1st quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after acquiring an additional 162 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in Occidental Petroleum by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after buying an additional 164 shares during the period. Earnest Partners LLC lifted its holdings in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after acquiring an additional 175 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Occidental Petroleum by 2.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after acquiring an additional 175 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s 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 transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Scotiabank decreased their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Stephens reissued an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. BMO Capital Markets reduced their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Barclays lowered their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Performance

Shares of OXY traded up $0.09 during mid-day trading on Wednesday, hitting $50.17. 2,064,624 shares of the company’s stock were exchanged, compared to its average volume of 9,111,710. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The business’s 50 day moving average is $53.21 and its two-hundred day moving average is $58.89. The firm has a market capitalization of $45.43 billion, a P/E ratio of 12.35 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) 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 business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Co. will post 3.31 earnings per share for the current year.

Occidental Petroleum 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.