Caprock Group LLC Takes Position in Occidental Petroleum Corporation $OXY

Caprock Group LLC purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,943 shares of the oil and gas producer’s stock, valued at approximately $1,235,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tevis Investment Management purchased a new stake in Occidental Petroleum during the second quarter worth about $356,000. Swedbank AB acquired a new position in Occidental Petroleum in the third quarter valued at $35,517,000. Nordea Investment Management AB lifted its holdings in shares of Occidental Petroleum by 4.9% during the 2nd quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer’s stock worth $19,446,000 after acquiring an additional 21,393 shares during the period. Adams Natural Resources Fund Inc. grew its stake in shares of Occidental Petroleum by 1,642.6% during the 2nd quarter. Adams Natural Resources Fund Inc. now owns 128,951 shares of the oil and gas producer’s stock valued at $5,417,000 after buying an additional 121,551 shares during the period. Finally, Gifford Fong Associates grew its holdings in shares of Occidental Petroleum by 41.2% during the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock worth $8,100,000 after purchasing an additional 50,000 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.2%

OXY stock opened at $46.02 on Friday. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $52.58. The company has a fifty day simple moving average of $42.76 and a 200 day simple moving average of $43.46. The firm has a market cap of $45.34 billion, a PE ratio of 33.84 and a beta of 0.41. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the purchase, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OXY shares. Susquehanna decreased their price target on shares of Occidental Petroleum from $55.00 to $51.00 and set a “positive” rating for the company in a research report on Monday, January 26th. TD Cowen upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Monday, February 9th. UBS Group dropped their price objective on shares of Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, December 12th. BMO Capital Markets reduced their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Monday, January 12th. Finally, Wells Fargo & Company reduced their price target on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $47.48.

Occidental Petroleum Company Profile

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.