Silicon Valley Capital Partners Increases Position in Occidental Petroleum Co. (NYSE:OXY)

Silicon Valley Capital Partners grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 16.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,034 shares of the oil and gas producer’s stock after acquiring an additional 2,025 shares during the period. Silicon Valley Capital Partners’ holdings in Occidental Petroleum were worth $723,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OXY. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. Strategic Financial Concepts LLC purchased a new position in Occidental Petroleum in the 2nd quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at approximately $87,000. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OXY has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Barclays decreased their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Bank of America initiated coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. Susquehanna decreased their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, UBS Group dropped their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $50.08 on Monday. The stock has a 50-day simple moving average of $52.82 and a two-hundred day simple moving average of $58.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a 52-week low of $49.51 and a 52-week high of $71.18. The firm has a market capitalization of $45.35 billion, a PE ratio of 12.21 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $6.93 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Co. will post 3.29 EPS for the current year.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was 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 this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.