DT Investment Partners LLC Purchases 308 Shares of Occidental Petroleum Co. (NYSE:OXY)

DT Investment Partners LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,195 shares of the oil and gas producer’s stock after acquiring an additional 308 shares during the period. DT Investment Partners LLC’s holdings in Occidental Petroleum were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $216,000. Global Assets Advisory LLC bought a new position in Occidental Petroleum in the first quarter valued at approximately $1,527,000. Brookstone Capital Management increased its position in shares of Occidental Petroleum by 32.2% during the first quarter. Brookstone Capital Management now owns 16,410 shares of the oil and gas producer’s stock worth $1,066,000 after acquiring an additional 3,995 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $274,000. Finally, Grimes & Company Inc. bought a new stake in Occidental Petroleum in the 1st quarter valued at $204,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on OXY. The Goldman Sachs Group started coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. Scotiabank dropped their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. UBS Group lowered their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Truist Financial decreased their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $65.72.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum 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 completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $51.35 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average price is $53.71 and its two-hundred day moving average price is $59.46. The company has a market cap of $46.50 billion, a PE ratio of 12.65 and a beta of 1.57. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping 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 period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.31 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.