GenTrust LLC Makes New $974,000 Investment in Occidental Petroleum Corporation $OXY

GenTrust LLC acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,500 shares of the oil and gas producer’s stock, valued at approximately $974,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 10.3% in the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after purchasing an additional 8,273,030 shares during the last quarter. Geode Capital Management LLC increased its position in Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after buying an additional 3,267,269 shares in the last quarter. Swedbank AB acquired a new position in shares of Occidental Petroleum during the third quarter worth approximately $35,517,000. American Century Companies Inc. lifted its stake in shares of Occidental Petroleum by 22.3% in the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock valued at $149,247,000 after buying an additional 647,243 shares in the last quarter. Finally, State Street Corp lifted its position in Occidental Petroleum by 1.6% in the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock valued at $1,649,147,000 after acquiring an additional 615,566 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Occidental Petroleum

In other news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the transaction, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This represents a 2.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Up 1.2%

OXY opened at $46.02 on Friday. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 33.84 and a beta of 0.41. The business has a 50 day simple moving average of $42.76 and a two-hundred day simple moving average of $43.46. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $52.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OXY. Morgan Stanley cut their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Barclays started coverage on Occidental Petroleum in a research report on Wednesday, January 21st. They set an “equal weight” rating on the stock. UBS Group cut their price target on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.48.

Occidental Petroleum 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.