Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,279 shares of the oil and gas producer's stock after acquiring an additional 12,349 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Occidental Petroleum were worth $10,139,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Financial Group LLC purchased a new position in Occidental Petroleum in the 2nd quarter valued at $25,000. Resurgent Financial Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $35,000. Financial Freedom LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at about $38,000. First Pacific Financial acquired a new stake in Occidental Petroleum in the 3rd quarter valued at about $45,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in Occidental Petroleum in the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 77.54% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on OXY. Wolfe Research cut Occidental Petroleum from an "outperform" rating to a "peer perform" rating in a report on Friday, November 10th. Mizuho cut shares of Occidental Petroleum from a "buy" rating to a "neutral" rating and set a $63.00 price target on the stock. in a research report on Wednesday, January 3rd. Morgan Stanley upgraded shares of Occidental Petroleum from an "equal weight" rating to an "overweight" rating and set a $68.00 price objective for the company in a research report on Monday, December 11th. Susquehanna increased their price target on shares of Occidental Petroleum from $72.00 to $78.00 and gave the company a "positive" rating in a research note on Wednesday, October 18th. Finally, Stephens restated an "overweight" rating and set a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $70.29.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 1,743,124 shares of the firm's stock in a transaction that occurred on Thursday, December 21st. The stock was purchased at an average cost of $60.26 per share, for a total transaction of $105,040,652.24. Following the completion of the acquisition, the insider now owns 243,715,804 shares in the company, valued at approximately $14,686,314,349.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 8,720,708 shares of company stock worth $505,766,000 over the last 90 days. Corporate insiders own 0.31% of the company's stock.

Occidental Petroleum Trading Down 0.1 %

Occidental Petroleum stock traded down $0.03 during midday trading on Friday, reaching $57.29. 2,509,828 shares of the stock traded hands, compared to its average volume of 8,869,963. The company has a current ratio of 0.92, a quick ratio of 0.70 and a debt-to-equity ratio of 0.88. The firm has a market cap of $50.44 billion, a PE ratio of 12.54 and a beta of 1.64. The company has a 50-day simple moving average of $58.46 and a two-hundred day simple moving average of $61.44. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $67.67.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.18 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 analyst estimates of $7.05 billion. Occidental Petroleum had a net margin of 18.26% and a return on equity of 25.39%. The business's revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 earnings per share. Research analysts expect that Occidental Petroleum Co. will post 3.75 earnings per share for the current fiscal year.

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

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