Kestra Private Wealth Services LLC Has $729,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Kestra Private Wealth Services LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,238 shares of the oil and gas producer’s stock after purchasing an additional 545 shares during the period. Kestra Private Wealth Services LLC’s holdings in Occidental Petroleum were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. Steward Financial Group LLC bought a new stake in shares of Occidental Petroleum during the second quarter worth $25,000. Resurgent Financial Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $35,000. Financial Freedom LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $38,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Occidental Petroleum during the second quarter worth $44,000. Finally, First Pacific Financial bought a new stake in shares of Occidental Petroleum during the third quarter worth $45,000. 77.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 3,200,799 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was purchased at an average cost of $56.55 per share, with a total value of $181,005,183.45. Following the acquisition, the insider now directly owns 238,533,189 shares of the company’s stock, valued at $13,489,051,837.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 8,720,708 shares of company stock valued at $505,766,000 in the last three months. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OXY shares. Wolfe Research cut Occidental Petroleum from an “outperform” rating to a “peer perform” rating in a report on Friday, November 10th. Mizuho cut Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Wednesday, January 3rd. Stephens reiterated an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, October 12th. Morgan Stanley upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a report on Monday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.29.

Read Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Stock Performance

OXY opened at $57.57 on Wednesday. The business has a fifty day simple moving average of $58.29 and a 200 day simple moving average of $61.40. The company has a market capitalization of $50.68 billion, a PE ratio of 12.60 and a beta of 1.64. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $67.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.92 and a quick ratio of 0.70.

Occidental Petroleum (NYSE:OXYGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.29. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.05 billion. Occidental Petroleum had a return on equity of 25.39% and a net margin of 18.26%. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. Research analysts expect that Occidental Petroleum Co. will post 3.75 EPS for the current year.

Occidental Petroleum Company Profile

(Free Report)

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

Further Reading

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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