KG&L Capital Management LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

KG&L Capital Management LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,405 shares of the oil and gas producer’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nvwm LLC grew 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 valued at $417,000 after acquiring an additional 329 shares in the last quarter. Van ECK Associates Corp grew 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 valued at $948,000 after acquiring an additional 10,248 shares in the last quarter. Harbor Capital Advisors Inc. grew 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 valued at $1,139,000 after acquiring an additional 386 shares in the last quarter. Janney Montgomery Scott LLC grew 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 valued at $11,440,000 after acquiring an additional 29,344 shares in the last quarter. Finally, Private Wealth Partners LLC grew its holdings in shares of Occidental Petroleum by 16.6% during the 3rd quarter. Private Wealth Partners LLC now owns 51,515 shares of the oil and gas producer’s stock valued at $2,655,000 after acquiring an additional 7,350 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is owned by company insiders.

Occidental Petroleum Stock Up 2.0 %

Shares of OXY opened at $50.56 on Tuesday. The company has a 50-day simple moving average of $52.68 and a 200-day simple moving average of $58.42. The firm 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 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.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, equities research analysts expect that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OXY. Evercore ISI lowered their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Stephens reiterated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Mizuho decreased their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Barclays decreased their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Two investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.72.

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, 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.