Clear Harbor Asset Management LLC Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Clear Harbor Asset Management LLC increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 138.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,030 shares of the oil and gas producer’s stock after purchasing an additional 23,816 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Occidental Petroleum were worth $2,115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. LRI Investments LLC acquired 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 during the second quarter worth about $53,000. Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $87,000. Finally, Tobam grew its holdings in shares of Occidental Petroleum by 28.8% in the 3rd quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock worth $98,000 after acquiring an additional 426 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $51.58 on Friday. Occidental Petroleum Co. has a 52-week low of $49.75 and a 52-week high of $71.18. The stock has a fifty day moving average price of $53.46 and a two-hundred day moving average price of $59.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The firm has a market capitalization of $46.71 billion, a P/E ratio of 12.70 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (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 company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OXY shares. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Mizuho reduced their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Evercore ISI decreased their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $65.72.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum 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.