Canada Post Corp Registered Pension Plan Boosts Stake in Occidental Petroleum Corporation $OXY

Canada Post Corp Registered Pension Plan lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 275.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 44,095 shares of the oil and gas producer’s stock after purchasing an additional 32,350 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Occidental Petroleum were worth $2,121,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. State of Michigan Retirement System increased its position in shares of Occidental Petroleum by 0.8% in the third quarter. State of Michigan Retirement System now owns 205,739 shares of the oil and gas producer’s stock worth $9,721,000 after acquiring an additional 1,700 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in Occidental Petroleum by 7.4% during the 3rd quarter. Wellington Shields & Co. LLC now owns 7,300 shares of the oil and gas producer’s stock worth $345,000 after purchasing an additional 500 shares during the period. Solitude Financial Services increased its holdings in Occidental Petroleum by 46.2% in the 3rd quarter. Solitude Financial Services now owns 19,520 shares of the oil and gas producer’s stock valued at $922,000 after purchasing an additional 6,167 shares in the last quarter. Lincoln Capital LLC raised its position in Occidental Petroleum by 74.0% in the third quarter. Lincoln Capital LLC now owns 124,642 shares of the oil and gas producer’s stock valued at $5,590,000 after purchasing an additional 53,004 shares during the period. Finally, Portside Wealth Group LLC lifted its stake in shares of Occidental Petroleum by 8.1% during the third quarter. Portside Wealth Group LLC now owns 31,201 shares of the oil and gas producer’s stock worth $1,474,000 after purchasing an additional 2,345 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $46.39 on Friday. The firm has a fifty day moving average of $42.36 and a two-hundred day moving average of $43.41. The firm has a market cap of $45.70 billion, a P/E ratio of 34.11 and a beta of 0.41. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $52.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 EPS. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Insider Activity at Occidental Petroleum

In other news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OXY shares. Morgan Stanley dropped their target price on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Bank of America lifted their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. Jefferies Financial Group decreased their target price on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 20th. Wolfe Research dropped their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. Finally, BMO Capital Markets decreased their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday, January 12th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.48.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.