Occidental Petroleum Corporation $OXY Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 41.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 34,158 shares of the oil and gas producer’s stock after selling 23,935 shares during the period. NewEdge Advisors LLC’s holdings in Occidental Petroleum were worth $2,220,000 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. Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth approximately $29,000. Caitlin John LLC purchased a new position in Occidental Petroleum in the 4th quarter valued at $29,000. Activest Wealth Management boosted its stake in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the last quarter. Rossby Financial LCC boosted its stake in Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum during the third quarter worth $35,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OXY has been the topic of several research reports. Wolfe Research raised their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Susquehanna upped their price objective on shares of Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Wednesday, July 8th. Raymond James Financial raised their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.17.

Occidental Petroleum Stock Performance

NYSE OXY opened at $57.03 on Friday. The stock has a market cap of $56.73 billion, a PE ratio of 14.37, a P/E/G ratio of 0.81 and a beta of 0.15. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The stock has a fifty day simple moving average of $54.43 and a 200-day simple moving average of $53.97.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue was down 8.3% on a year-over-year basis. Equities analysts anticipate that Occidental Petroleum Corporation will post 5.43 earnings per share for the current year.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.