Boston Private Wealth LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 77.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 52,992 shares of the oil and gas producer’s stock after selling 178,655 shares during the period. Boston Private Wealth LLC’s holdings in Occidental Petroleum were worth $2,356,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in OXY. Price T Rowe Associates Inc. MD lifted its stake in shares of Occidental Petroleum by 39.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,365,328 shares of the oil and gas producer’s stock valued at $1,677,609,000 after acquiring an additional 9,386,180 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Occidental Petroleum by 24.6% during the second quarter. Macquarie Group Ltd. now owns 13,311,398 shares of the oil and gas producer’s stock valued at $669,297,000 after acquiring an additional 2,630,424 shares during the period. Morgan Stanley lifted its stake in shares of Occidental Petroleum by 0.4% during the second quarter. Morgan Stanley now owns 8,002,841 shares of the oil and gas producer’s stock valued at $402,383,000 after acquiring an additional 28,283 shares during the period. Charles Schwab Investment Advisory Inc. lifted its stake in shares of Occidental Petroleum by 86.7% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 5,839,718 shares of the oil and gas producer’s stock valued at $293,621,000 after acquiring an additional 2,712,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Occidental Petroleum by 12.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,215,304 shares of the oil and gas producer’s stock valued at $211,946,000 after acquiring an additional 466,208 shares during the period. Institutional investors own 85.41% of the company’s stock.
Shares of NYSE OXY traded up $0.39 during mid-day trading on Friday, reaching $39.42. 436,419 shares of the company’s stock were exchanged, compared to its average volume of 8,472,179. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 3.47 and a beta of 0.85. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54. The business has a fifty day simple moving average of $42.60 and a 200 day simple moving average of $48.42. Occidental Petroleum Co. has a twelve month low of $38.47 and a twelve month high of $74.29.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.59 billion. Occidental Petroleum had a return on equity of 9.98% and a net margin of 6.34%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. Equities research analysts predict that Occidental Petroleum Co. will post 2.32 earnings per share for the current fiscal year.
OXY has been the topic of several research reports. Raymond James cut their price target on Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 17th. Bank of America set a $80.00 price target on Occidental Petroleum and gave the company a “buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group initiated coverage on Occidental Petroleum in a research note on Friday, August 23rd. They issued a “hold” rating and a $47.00 target price on the stock. ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley cut their target price on Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $60.23.
In other news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $44.96 per share, for a total transaction of $224,800.00. Following the completion of the acquisition, the director now owns 96,203 shares in the company, valued at $4,325,286.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret M. Foran acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $43.15 per share, with a total value of $43,150.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 23,500 shares of company stock worth $1,039,775. 0.15% of the stock is currently owned by insiders.
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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