Atria Investments Inc Lowers Position in Occidental Petroleum Corporation $OXY

Atria Investments Inc decreased its position in Occidental Petroleum Corporation (NYSE:OXY) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,317 shares of the oil and gas producer’s stock after selling 3,803 shares during the period. Atria Investments Inc’s holdings in Occidental Petroleum were worth $3,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Carret Asset Management LLC lifted its stake in shares of Occidental Petroleum by 13.5% in the second quarter. Carret Asset Management LLC now owns 18,724 shares of the oil and gas producer’s stock valued at $787,000 after purchasing an additional 2,221 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Occidental Petroleum by 4.7% in the second quarter. Retirement Systems of Alabama now owns 152,045 shares of the oil and gas producer’s stock valued at $6,387,000 after purchasing an additional 6,864 shares during the period. MeadowBrook Investment Advisors LLC lifted its stake in shares of Occidental Petroleum by 371.7% in the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 788 shares during the period. Finally, Arkadios Wealth Advisors lifted its stake in shares of Occidental Petroleum by 2.6% in the second quarter. Arkadios Wealth Advisors now owns 40,892 shares of the oil and gas producer’s stock valued at $1,718,000 after purchasing an additional 1,024 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Scotiabank raised their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Melius Research assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Melius assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Susquehanna reduced their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.26.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $41.23 on Monday. The company has a market cap of $40.59 billion, a PE ratio of 24.40 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 company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a 50-day simple moving average of $44.87 and a 200-day simple moving average of $43.65.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data 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 the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Company 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.