CNB Bank grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 224.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 861 shares of the oil and gas producer’s stock after acquiring an additional 596 shares during the period. CNB Bank’s holdings in Occidental Petroleum were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. We Are One Seven LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $25,000. Country Trust Bank grew its position in shares of Occidental Petroleum by 434.6% during the 4th quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 339 shares during the period. Heritage Trust Co grew its position in shares of Occidental Petroleum by 496.2% during the 4th quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 387 shares during the period. Lenox Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $37,000. Finally, Essex Savings Bank acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $64,000. 81.65% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th. Atlantic Securities upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 price target for the company in a research report on Friday, December 21st. Capital One Financial cut shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. KeyCorp assumed coverage on shares of Occidental Petroleum in a research report on Thursday, December 20th. They set an “overweight” rating and a $75.00 price target for the company. Finally, Cowen assumed coverage on shares of Occidental Petroleum in a research report on Thursday, November 29th. They set a “market perform” rating and a $80.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $87.16.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.08. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. As a group, equities research analysts predict that Occidental Petroleum Co. will post 4.93 earnings per share for the current year.
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Occidental Petroleum Profile
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.
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