MQS Management LLC Lowers Stock Holdings in Occidental Petroleum Corporation $OXY

MQS Management LLC trimmed its stake in Occidental Petroleum Corporation (NYSE:OXY) by 49.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,851 shares of the oil and gas producer’s stock after selling 11,424 shares during the quarter. MQS Management LLC’s holdings in Occidental Petroleum were worth $560,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after acquiring an additional 8,273,030 shares during the period. State Street Corp raised its holdings in Occidental Petroleum by 1.6% in the second 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. Geode Capital Management LLC boosted its stake in Occidental Petroleum by 22.0% during 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 acquiring an additional 3,267,269 shares during the last quarter. Fairfax Financial Holdings Ltd. Can grew its holdings in Occidental Petroleum by 0.5% during the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 6,050,418 shares of the oil and gas producer’s stock worth $254,118,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Occidental Petroleum by 11.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock worth $208,165,000 after purchasing an additional 522,408 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Occidental Petroleum

In other news, Director William R. Klesse bought 5,000 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were acquired at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the transaction, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is currently owned by insiders.

Occidental Petroleum Trading Down 0.8%

Shares of Occidental Petroleum stock opened at $46.30 on Wednesday. The business has a fifty day simple moving average of $42.54 and a 200-day simple moving average of $43.43. The firm has a market cap of $45.62 billion, a price-to-earnings ratio of 34.04 and a beta of 0.41. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $52.58.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Scotiabank reduced their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Morgan Stanley lowered their price target on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Susquehanna dropped their price target on Occidental Petroleum from $55.00 to $51.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Zacks Research downgraded shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Bank of America increased their price target on Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price 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.