First Hawaiian Bank Invests $225,000 in Occidental Petroleum Co. (OXY)
First Hawaiian Bank bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,062 shares of the oil and gas producer’s stock, valued at approximately $225,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Barometer Capital Management Inc. acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $12,213,000. California Public Employees Retirement System raised its position in shares of Occidental Petroleum by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after purchasing an additional 64,533 shares in the last quarter. Swiss National Bank raised its position in shares of Occidental Petroleum by 0.9% in the 3rd quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after purchasing an additional 25,100 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $3,792,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Occidental Petroleum by 178.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock valued at $3,502,000 after acquiring an additional 37,499 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on OXY shares. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Credit Suisse Group started coverage on Occidental Petroleum in a research report on Monday, December 11th. They set a “neutral” rating and a $62.00 price target on the stock. Bank of America upped their price target on Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Jefferies Group upped their price target on Occidental Petroleum from $62.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Finally, Barclays upped their price target on Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $67.00.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) EPS. analysts anticipate that Occidental Petroleum Co. will post 0.8 earnings per share for the current year.
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About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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