Mcclain Value Management LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, HoldingsChannel reports. The firm purchased 59,574 shares of the oil and gas producer’s stock, valued at approximately $2,649,000. Occidental Petroleum makes up approximately 3.4% of Mcclain Value Management LLC’s holdings, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the second quarter valued at approximately $30,000. Clean Yield Group acquired a new position in shares of Occidental Petroleum during the third quarter worth $29,000. TRUE Private Wealth Advisors acquired a new position in shares of Occidental Petroleum during the second quarter worth $36,000. Hall Laurie J Trustee acquired a new position in shares of Occidental Petroleum during the third quarter worth $33,000. Finally, Edge Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 93.3% during the third quarter. Edge Wealth Management LLC now owns 773 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 373 shares in the last quarter. Institutional investors own 85.41% of the company’s stock.

Shares of Occidental Petroleum stock traded up $1.07 during trading on Friday, hitting $40.10. The company’s stock had a trading volume of 13,610,447 shares, compared to its average volume of 8,366,604. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.00. Occidental Petroleum Co. has a 52 week low of $38.30 and a 52 week high of $74.29. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The stock has a 50-day moving average price of $42.60 and a two-hundred day moving average price of $48.42.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a return on equity of 9.98% and a net margin of 6.34%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the firm earned $1.77 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities analysts predict that Occidental Petroleum Co. will post 2.32 EPS for the current fiscal year.

Several brokerages have recently issued reports on OXY. Barclays began coverage on shares of Occidental Petroleum in a report on Monday, August 19th. They set an “equal weight” rating and a $61.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Occidental Petroleum in a report on Tuesday, August 13th. They set an “underweight” rating and a $50.00 price target for the company. Morgan Stanley lowered their price target on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co lowered their price target on shares of Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.23.

In other news, CFO Cedric W. Burgher purchased 2,500 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $43.27 per share, with a total value of $108,175.00. Following the completion of the transaction, the chief financial officer now owns 79,342 shares of the company’s stock, valued at approximately $3,433,128.34. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. Foran purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $43.15 per share, for a total transaction of $43,150.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 23,500 shares of company stock worth $1,039,775. 0.15% of the stock is currently owned by insiders.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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