Mraz Amerine & Associates Inc. Decreases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Mraz Amerine & Associates Inc. trimmed its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,523 shares of the oil and gas producer’s stock after selling 817 shares during the period. Occidental Petroleum accounts for 0.9% of Mraz Amerine & Associates Inc.’s holdings, making the stock its 19th biggest position. Mraz Amerine & Associates Inc.’s holdings in Occidental Petroleum were worth $5,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. lifted its holdings in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Occidental Petroleum during the first quarter valued at $44,000. LRI Investments LLC purchased a new position in Occidental Petroleum during the first quarter valued at $44,000. Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum during the third quarter valued at $87,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Occidental Petroleum during the second quarter valued at $110,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $51.35 on Friday. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18. The stock has a market cap of $46.50 billion, a P/E ratio of 12.65 and a beta of 1.57. The company has a 50-day moving average price of $53.71 and a 200 day moving average price of $59.46. 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 (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share 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 during 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 revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.31 earnings per share for the current year.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum 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 directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial decreased their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets decreased 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. Finally, Susquehanna decreased their price target on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.72.

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.