AlphaQuest LLC Sells 5,598 Shares of Occidental Petroleum Corporation $OXY

AlphaQuest LLC cut its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 64.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,052 shares of the oil and gas producer’s stock after selling 5,598 shares during the period. AlphaQuest LLC’s holdings in Occidental Petroleum were worth $128,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum in the 1st quarter worth $39,000. Spectrum Wealth Counsel LLC lifted its stake in Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Occidental Petroleum during the first quarter valued at $54,000. Mid American Wealth Advisory Group Inc. bought a new position in Occidental Petroleum in the 2nd quarter worth about $55,000. Finally, Quarry LP increased its stake in shares of Occidental Petroleum by 69.7% during the first quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after buying an additional 688 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OXY. Evercore ISI cut their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. JPMorgan Chase & Co. increased their price objective on Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and upped their price target for the company from $58.00 to $60.00 in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Finally, Piper Sandler cut their target price on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $52.26.

Occidental Petroleum Stock Down 2.0%

NYSE:OXY opened at $40.09 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $39.46 billion, a price-to-earnings ratio of 23.72 and a beta of 0.95. The stock’s fifty day moving average is $44.64 and its two-hundred day moving average is $43.66. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. Research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

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.