KG&L Capital Management LLC Acquires New Position in Occidental Petroleum Co. (NYSE:OXY)

KG&L Capital Management LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,405 shares of the oil and gas producer’s stock, valued at approximately $330,000.

Other large investors have also bought and sold shares of the company. Czech National Bank lifted its holdings in Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after buying an additional 10,456 shares during the period. Discovery Capital Management LLC CT acquired a new stake in Occidental Petroleum in the second quarter worth $10,331,000. Murphy Pohlad Asset Management LLC acquired a new stake in Occidental Petroleum in the third quarter worth $593,000. Empyrean Capital Partners LP acquired a new stake in Occidental Petroleum in the second quarter worth $2,975,000. Finally, Swedbank AB acquired a new stake in Occidental Petroleum in the first quarter worth $12,547,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Scotiabank cut their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. Wolfe Research initiated coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Truist Financial dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.72.

Occidental Petroleum Stock Performance

Shares of OXY opened at $50.56 on Tuesday. The firm has a 50-day moving average of $52.68 and a 200-day moving average of $58.42. Occidental Petroleum Co. has a one year low of $49.51 and a one year high of $71.18. The company has a market cap of $45.79 billion, a PE ratio of 12.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data 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 company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm posted $0.68 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

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.