Murphy Pohlad Asset Management LLC Takes $593,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Murphy Pohlad Asset Management LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,500 shares of the oil and gas producer’s stock, valued at approximately $593,000.

A number of other hedge funds have also made changes to their positions in OXY. Fortitude Family Office LLC increased its position in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum during the 2nd quarter worth about $53,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum during the 3rd quarter worth about $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Barclays dropped their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Mizuho dropped their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Susquehanna lowered their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a report on Friday, October 18th. Two research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Stock Performance

NYSE OXY opened at $49.57 on Friday. The firm has a market capitalization of $44.89 billion, a P/E ratio of 12.21 and a beta of 1.57. Occidental Petroleum Co. has a 1-year low of $49.51 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The business’s 50-day simple moving average is $52.82 and its 200-day simple moving average is $58.63.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. Equities analysts predict that Occidental Petroleum Co. will post 3.29 EPS for the current year.

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.