Inscription Capital LLC Trims Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Inscription Capital LLC cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 13.0% in the third quarter, Holdings Channel.com reports. The fund owned 53,023 shares of the oil and gas producer’s stock after selling 7,929 shares during the quarter. Inscription Capital LLC’s holdings in Occidental Petroleum were worth $2,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CapWealth Advisors LLC lifted its position in Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock valued at $397,000 after acquiring an additional 162 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after buying an additional 164 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after buying an additional 173 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after buying an additional 175 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of Occidental Petroleum by 2.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 175 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OXY. Barclays reduced their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Bank of America began coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Evercore ISI cut their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Finally, BMO Capital Markets cut their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Price Performance

OXY traded down $0.94 on Monday, hitting $50.64. 2,285,645 shares of the company were exchanged, compared to its average volume of 9,103,398. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The business’s fifty day moving average is $53.46 and its 200 day moving average is $59.15. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The firm has a market capitalization of $44.90 billion, a P/E ratio of 14.09 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.31 EPS for the current year.

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, 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.