Clarus Wealth Advisors acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, HoldingsChannel.com reports. The firm acquired 4,737 shares of the oil and gas producer’s stock, valued at approximately $211,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the 2nd quarter worth approximately $30,000. Global Trust Asset Management LLC grew its position in Occidental Petroleum by 2,725.6% in the 2nd quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 11,693 shares during the period. Truewealth LLC grew its position in Occidental Petroleum by 52.4% in the 3rd quarter. Truewealth LLC now owns 785 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 270 shares during the period. TRUE Private Wealth Advisors bought a new stake in Occidental Petroleum in the 2nd quarter worth approximately $36,000. Finally, Kavar Capital Partners LLC bought a new stake in Occidental Petroleum in the 2nd quarter worth approximately $39,000. Institutional investors own 85.28% of the company’s stock.
In other Occidental Petroleum news, Director Margaret M. Foran acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $43.15 per share, with a total value of $43,150.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $44.96 per share, with a total value of $224,800.00. Following the transaction, the director now owns 96,203 shares in the company, valued at $4,325,286.88. The disclosure for this purchase can be found here. In the last three months, insiders have bought 38,500 shares of company stock valued at $1,793,075. Insiders own 0.15% of the company’s stock.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum Co. will post 2.95 EPS for the current year.
OXY has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $59.00 target price on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Friday, August 16th. SunTrust Banks initiated coverage on shares of Occidental Petroleum in a research report on Monday, September 23rd. They issued a “hold” rating and a $48.00 target price for the company. Bank of America set a $80.00 target price on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Co cut their target price on shares of Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, August 16th. Finally, Jefferies Financial Group initiated coverage on shares of Occidental Petroleum in a research report on Friday, August 23rd. They issued a “hold” rating and a $47.00 target price for the company. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.07.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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