First Mercantile Trust Co. decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,465 shares of the oil and gas producer’s stock after selling 1,500 shares during the quarter. First Mercantile Trust Co.’s holdings in Occidental Petroleum were worth $581,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Occidental Petroleum by 31.0% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 207,559 shares of the oil and gas producer’s stock valued at $12,740,000 after purchasing an additional 49,101 shares in the last quarter. Allred Capital Management LLC purchased a new position in Occidental Petroleum during the fourth quarter valued at approximately $268,000. Shelton Capital Management lifted its holdings in Occidental Petroleum by 1.8% during the fourth quarter. Shelton Capital Management now owns 8,646 shares of the oil and gas producer’s stock valued at $531,000 after purchasing an additional 152 shares in the last quarter. Rhumbline Advisers lifted its holdings in Occidental Petroleum by 0.7% during the fourth quarter. Rhumbline Advisers now owns 1,442,244 shares of the oil and gas producer’s stock valued at $88,525,000 after purchasing an additional 10,377 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Occidental Petroleum by 16.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 57,582 shares of the oil and gas producer’s stock valued at $3,534,000 after purchasing an additional 8,120 shares in the last quarter. 81.12% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on OXY. Zacks Investment Research downgraded shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. Atlantic Securities raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 price target on the stock in a 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 started coverage on shares of Occidental Petroleum in a research report on Thursday, December 20th. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Cowen started 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 objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $87.16.
Shares of OXY opened at $67.30 on Wednesday. Occidental Petroleum Co. has a fifty-two week low of $56.83 and a fifty-two week high of $87.67. The firm has a market capitalization of $51.15 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 3.06 and a beta of 0.88. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.26. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. Occidental Petroleum’s quarterly revenue was up 98.9% on a year-over-year basis. As a group, analysts anticipate that Occidental Petroleum Co. will post 4.93 EPS for the current year.
About Occidental Petroleum
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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