HBK Sorce Advisory LLC Sells 2,181 Shares of Occidental Petroleum Corporation $OXY

HBK Sorce Advisory LLC trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its holdings in Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 788 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Occidental Petroleum by 2.6% during the 2nd quarter. Arkadios Wealth Advisors now owns 40,892 shares of the oil and gas producer’s stock worth $1,718,000 after acquiring an additional 1,024 shares during the last quarter. World Investment Advisors boosted its stake in shares of Occidental Petroleum by 41.9% in the 2nd quarter. World Investment Advisors now owns 6,972 shares of the oil and gas producer’s stock valued at $293,000 after purchasing an additional 2,060 shares during the last quarter. New York Life Investment Management LLC boosted its stake in shares of Occidental Petroleum by 6.6% in the 2nd quarter. New York Life Investment Management LLC now owns 96,488 shares of the oil and gas producer’s stock valued at $4,053,000 after purchasing an additional 5,950 shares during the last quarter. Finally, Howard Capital Management Inc. bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $221,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Up 1.3%

Occidental Petroleum stock opened at $41.23 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20. The firm’s fifty day moving average is $44.87 and its 200 day moving average is $43.57. The company has a market capitalization of $40.59 billion, a PE ratio of 24.40 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of analyst reports. Scotiabank upped their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. Bank of America upped their price objective on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Evercore ISI reduced their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research note on Friday, October 3rd. Finally, Piper Sandler reduced their price objective on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell 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 $52.26.

Occidental Petroleum Company 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.