HBK Sorce Advisory LLC Has $365,000 Stake in Occidental Petroleum Corporation $OXY

by · The Cerbat Gem

HBK Sorce Advisory LLC decreased its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 20.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,699 shares of the oil and gas producer’s stock after selling 2,181 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Occidental Petroleum were worth $365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Occidental Petroleum in the 2nd quarter worth about $27,000. Hantz Financial Services Inc. raised its position in shares of Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 788 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $39,000. Spectrum Wealth Counsel LLC raised its position in shares of Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 1,000 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.3%

Shares of Occidental Petroleum stock opened at $41.23 on Friday. The firm has a market capitalization of $40.59 billion, a PE ratio of 24.40 and a beta of 0.95. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average is $44.87 and its 200 day moving average is $43.57. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20.

Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of Occidental Petroleum in a research report on Friday, October 17th. They issued an “underweight” rating and a $42.00 target price for the company. Hsbc Global Res upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. HSBC upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Mizuho upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $60.00 in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.26.

View Our Latest Research Report on OXY

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, 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.

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