Occidental Petroleum Corporation $OXY Stake Raised by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its Occidental Petroleum stake by 46.7% in the first quarter to 60,427 shares valued at approximately $3.93 million. Institutional investors and hedge funds collectively own 88.7% of OXY.
• Analyst views remain mixed, with recent price-target changes ranging from $60 to $72. The stock has an average “Hold” rating and a consensus price target of $64.17.
• Occidental reported quarterly earnings of $1.06 per share, beating estimates of $0.60, although revenue fell 8.3% year over year to $5.11 billion. CEO Richard A. Jackson also purchased 4,770 shares at an average price of $52.38.

Arkadios Wealth Advisors grew its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 46.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,427 shares of the oil and gas producer's stock after purchasing an additional 19,244 shares during the period. Arkadios Wealth Advisors' holdings in Occidental Petroleum were worth $3,928,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in OXY. Woodline Partners LP raised its stake in shares of Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer's stock valued at $2,817,000 after acquiring an additional 16,506 shares in the last quarter. Marshall Wace LLP acquired a new position in Occidental Petroleum during the second quarter valued at approximately $4,584,000. Federated Hermes Inc. raised its position in shares of Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer's stock valued at $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer's stock valued at $4,443,000 after purchasing an additional 7,285 shares during the period. Finally, AXA S.A. lifted its stake in shares of Occidental Petroleum by 24.3% in the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer's stock worth $5,740,000 after buying an additional 26,741 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on OXY. Stephens lowered their target price on shares of Occidental Petroleum from $73.00 to $69.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. UBS Group cut their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Citigroup lowered their price target on Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, July 17th. Wolfe Research lifted their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Finally, Barclays raised Occidental Petroleum from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $59.00 to $72.00 in a research report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and an average price target of $64.17.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company's stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $57.03 on Friday. The firm has a market capitalization of $56.73 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.81 and a beta of 0.15. The stock has a fifty day moving average price of $54.43 and a two-hundred day moving average price of $53.97. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, analysts anticipate that Occidental Petroleum Corporation will post 5.43 EPS for the current fiscal year.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.