Occidental Petroleum Corporation $OXY Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,927 shares of the oil and gas producer’s stock after selling 2,124 shares during the period. Intellectus Partners LLC’s holdings in Occidental Petroleum were worth $800,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $27,000. Hantz Financial Services Inc. grew its stake in shares of Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. MeadowBrook Investment Advisors LLC grew its stake in shares of Occidental Petroleum by 371.7% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 788 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC grew its stake in shares of Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $40.94 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The stock has a market cap of $40.30 billion, a P/E ratio of 24.23 and a beta of 0.95. The firm has a 50 day simple moving average of $44.76 and a 200 day simple moving average of $43.66. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OXY. Roth Capital lifted their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Melius Research began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price for the company. Piper Sandler decreased their target price on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Mizuho upgraded shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $58.00 to $60.00 in a report on Friday, October 3rd. Finally, Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.26.

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.