Greenleaf Trust lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 50.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,511 shares of the oil and gas producer’s stock after buying an additional 2,841 shares during the period. Greenleaf Trust’s holdings in Occidental Petroleum were worth $522,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Country Trust Bank raised its stake in shares of Occidental Petroleum by 434.6% during the 4th quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 339 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $25,000. Heritage Trust Co raised its stake in shares of Occidental Petroleum by 496.2% during the 4th quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 387 shares in the last quarter. Rational Advisors LLC raised its stake in shares of Occidental Petroleum by 83.2% during the 4th quarter. Rational Advisors LLC now owns 555 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 252 shares in the last quarter. Finally, Lenox Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $37,000. 79.78% of the stock is owned by institutional investors and hedge funds.
OXY has been the subject of a number of analyst reports. KeyCorp initiated coverage on Occidental Petroleum in a research note on Thursday, December 20th. They set an “overweight” rating and a $75.00 target price for the company. Argus reissued a “buy” rating and set a $97.00 target price on shares of Occidental Petroleum in a research note on Monday, November 26th. Morgan Stanley set a $72.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, February 14th. Cowen initiated coverage on Occidental Petroleum in a research note on Thursday, November 29th. They issued a “market perform” rating and a $80.00 price objective for the company. Finally, Zacks Investment Research downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a research note on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $83.32.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. Occidental Petroleum’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research analysts expect that Occidental Petroleum Co. will post 3.18 EPS for the current fiscal year.
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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 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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