Intact Investment Management Inc. Buys 5,200 Shares of Occidental Petroleum Co. (NYSE:OXY)

Intact Investment Management Inc. boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,910 shares of the oil and gas producer’s stock after acquiring an additional 5,200 shares during the period. Intact Investment Management Inc.’s holdings in Occidental Petroleum were worth $2,882,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OXY. KG&L Capital Management LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $330,000. Nvwm LLC boosted its holdings in shares of Occidental Petroleum by 4.2% during the 3rd quarter. Nvwm LLC now owns 8,083 shares of the oil and gas producer’s stock worth $417,000 after buying an additional 329 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Occidental Petroleum by 124.5% during the 3rd quarter. Van ECK Associates Corp now owns 18,481 shares of the oil and gas producer’s stock worth $948,000 after buying an additional 10,248 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 1.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,094 shares of the oil and gas producer’s stock worth $1,139,000 after buying an additional 386 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Occidental Petroleum by 15.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock worth $11,440,000 after buying an additional 29,344 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Up 2.0 %

Shares of NYSE:OXY opened at $50.56 on Tuesday. The stock’s 50-day moving average price is $52.68 and its 200-day moving average price is $58.42. Occidental Petroleum Co. has a 12-month low of $49.51 and a 12-month high of $71.18. The stock has a market capitalization of $45.79 billion, a P/E ratio of 12.45 and a beta of 1.58. 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 posted 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. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’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 sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on OXY. Scotiabank cut their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group lowered their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Barclays lowered their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Mizuho lowered their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently 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.