MeadowBrook Investment Advisors LLC Grows Stock Position in Occidental Petroleum Corporation $OXY

MeadowBrook Investment Advisors LLC boosted its stake in Occidental Petroleum Corporation (NYSE:OXY) by 371.7% in the second quarter, Holdings Channel reports. The fund owned 1,000 shares of the oil and gas producer’s stock after buying an additional 788 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Occidental Petroleum were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northeast Financial Consultants Inc boosted its holdings in Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock worth $2,890,000 after acquiring an additional 242 shares during the period. Inspire Investing LLC boosted its holdings in Occidental Petroleum by 3.8% in the 2nd quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock worth $282,000 after acquiring an additional 247 shares during the period. S.A. Mason LLC boosted its holdings in Occidental Petroleum by 5.9% in the 2nd quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock worth $223,000 after acquiring an additional 295 shares during the period. Moody National Bank Trust Division boosted its holdings in Occidental Petroleum by 2.0% in the 2nd quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock worth $644,000 after acquiring an additional 300 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in Occidental Petroleum by 3.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock worth $354,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $40.57 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm has a market cap of $39.94 billion, a P/E ratio of 24.01 and a beta of 0.95. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20. The stock’s 50 day simple moving average is $45.03 and its 200 day simple moving average is $43.57.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Mizuho upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their target price for the company from $58.00 to $60.00 in a research note on Friday, October 3rd. Wells Fargo & Company assumed coverage on Occidental Petroleum in a research note on Friday, October 17th. They set an “underweight” rating and a $42.00 target price for the company. Roth Capital increased their target price on Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. Finally, Scotiabank increased their target price on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $52.26.

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.