Foundations Investment Advisors LLC Acquires 670 Shares of Occidental Petroleum Co. (NYSE:OXY)

Foundations Investment Advisors LLC increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,668 shares of the oil and gas producer’s stock after acquiring an additional 670 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Occidental Petroleum were worth $550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OXY. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $44,000. LRI Investments LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth $44,000. Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum in the 2nd quarter worth about $53,000. Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum during the third quarter valued at about $87,000. Finally, Tobam boosted its position in Occidental Petroleum by 28.8% during the third quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock worth $98,000 after purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $51.57 on Friday. The firm has a market capitalization of $46.70 billion, a PE ratio of 12.70 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18. The business’s 50-day moving average price is $53.59 and its 200-day moving average price is $59.40.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OXY. BMO Capital Markets dropped their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Wolfe Research assumed coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target for the company. Evercore ISI dropped their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $65.72.

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, 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.