Lincoln Capital LLC Boosts Position in Occidental Petroleum Corporation $OXY
Lincoln Capital LLC lifted its position in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 74.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,642 shares of the oil and gas producer’s stock after purchasing an additional 53,004 shares during the quarter. Occidental Petroleum comprises about 1.0% of Lincoln Capital LLC’s holdings, making the stock its 23rd biggest holding. Lincoln Capital LLC’s holdings in Occidental Petroleum were worth $5,590,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth approximately $27,000. City Holding Co. grew its position in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 500 shares during the period. Hantz Financial Services Inc. grew its position in 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 worth $36,000 after acquiring an additional 788 shares during the period. GoalVest Advisory LLC acquired a new stake in Occidental Petroleum during the third quarter worth $38,000. Finally, MeadowBrook Investment Advisors LLC raised its position in 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. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Occidental Petroleum
In related news, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the acquisition, the director owned 218,913 shares in the company, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Occidental Petroleum from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, January 21st. They issued an “equal weight” rating on the stock. Jefferies Financial Group dropped their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Thursday, January 22nd. Finally, Wolfe Research lowered their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.48.
Get Our Latest Research Report on OXY
Occidental Petroleum Trading Up 3.1%
NYSE OXY opened at $46.65 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. The firm has a market cap of $45.96 billion, a price-to-earnings ratio of 34.30 and a beta of 0.41. The firm has a 50 day simple moving average of $42.20 and a 200-day simple moving average of $43.38. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $52.58.
Occidental Petroleum (NYSE:OXY — Get Free Report) last released its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. Equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
Further Reading
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