Patten & Patten Inc. TN Cuts Holdings in Occidental Petroleum Co. (OXY)

Patten & Patten Inc. TN cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,063 shares of the oil and gas producer’s stock after selling 5,736 shares during the quarter. Patten & Patten Inc. TN’s holdings in Occidental Petroleum were worth $1,625,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OXY. Steward Partners Investment Advisory LLC increased its stake in Occidental Petroleum by 38.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,742 shares of the oil and gas producer’s stock worth $2,264,000 after purchasing an additional 8,533 shares in the last quarter. Viking Fund Management LLC increased its stake in Occidental Petroleum by 5.8% during the 4th quarter. Viking Fund Management LLC now owns 48,600 shares of the oil and gas producer’s stock worth $3,580,000 after purchasing an additional 2,650 shares in the last quarter. Personal Capital Advisors Corp increased its stake in Occidental Petroleum by 20.6% during the 4th quarter. Personal Capital Advisors Corp now owns 219,038 shares of the oil and gas producer’s stock worth $16,134,000 after purchasing an additional 37,356 shares in the last quarter. Cibc Bank USA increased its stake in Occidental Petroleum by 2.3% during the 4th quarter. Cibc Bank USA now owns 47,184 shares of the oil and gas producer’s stock worth $3,476,000 after purchasing an additional 1,061 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Occidental Petroleum by 332.6% during the 4th quarter. State of Alaska Department of Revenue now owns 126,461 shares of the oil and gas producer’s stock worth $9,313,000 after purchasing an additional 97,226 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

OXY has been the subject of a number of research reports. Scotiabank reissued a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Mizuho set a $79.00 price target on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group initiated coverage on shares of Occidental Petroleum in a research note on Monday, December 11th. They set a “neutral” rating and a $62.00 price target for the company. Cowen set a $85.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $70.07.

Occidental Petroleum Co. (OXY) traded up $0.13 during midday trading on Wednesday, hitting $69.85. The stock had a trading volume of 8,010,000 shares, compared to its average volume of 4,050,000. The firm has a market cap of $53,450.00, a P/E ratio of 98.38, a PEG ratio of 4.48 and a beta of 0.53. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Occidental Petroleum Co. has a 12 month low of $57.20 and a 12 month high of $78.09.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. During the same quarter in the prior year, the firm posted ($0.13) EPS. equities analysts predict that Occidental Petroleum Co. will post 0.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s payout ratio is presently 433.80%.

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Occidental Petroleum Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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