Burns J W & Co. Inc. NY Decreases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Burns J W & Co. Inc. NY cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 16.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,877 shares of the oil and gas producer’s stock after selling 4,475 shares during the period. Burns J W & Co. Inc. NY’s holdings in Occidental Petroleum were worth $1,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OXY. Fernwood Investment Management LLC increased its stake in shares of Occidental Petroleum by 3.0% in the 2nd quarter. Fernwood Investment Management LLC now owns 6,810 shares of the oil and gas producer’s stock worth $342,000 after purchasing an additional 200 shares in the last quarter. Griffin Asset Management Inc. increased its stake in shares of Occidental Petroleum by 2.7% in the 2nd quarter. Griffin Asset Management Inc. now owns 8,440 shares of the oil and gas producer’s stock worth $424,000 after purchasing an additional 225 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Occidental Petroleum by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 25,206 shares of the oil and gas producer’s stock worth $1,272,000 after purchasing an additional 250 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its stake in shares of Occidental Petroleum by 5.0% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 5,380 shares of the oil and gas producer’s stock worth $239,000 after purchasing an additional 255 shares in the last quarter. Finally, Wealthsource Partners LLC increased its stake in shares of Occidental Petroleum by 6.9% in the 2nd quarter. Wealthsource Partners LLC now owns 4,153 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 85.28% of the company’s stock.

In related news, Director Bob Shearer acquired 15,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $50.22 per share, with a total value of $753,300.00. Following the acquisition, the director now directly owns 19,218 shares of the company’s stock, valued at $965,127.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kenneth Dillon acquired 5,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $44.57 per share, with a total value of $222,850.00. Following the acquisition, the insider now directly owns 108,536 shares in the company, valued at $4,837,449.52. The disclosure for this purchase can be found here. Insiders have acquired a total of 38,500 shares of company stock valued at $1,793,075 in the last three months. Insiders own 0.15% of the company’s stock.

Several equities research analysts have recently commented on the company. 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 price objective for the company. Morgan Stanley dropped their target price on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Tuesday, August 27th. They issued a “neutral” rating and a $52.50 target price for the company. Susquehanna Bancshares initiated coverage on shares of Occidental Petroleum in a report on Thursday, September 5th. They issued a “positive” rating and a $55.00 target price for the company. Finally, SunTrust Banks initiated coverage on shares of Occidental Petroleum in a report on Monday, September 23rd. They issued a “hold” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.07.

Shares of OXY traded up $0.56 during midday trading on Friday, hitting $41.59. 210,215 shares of the company traded hands, compared to its average volume of 8,380,805. The firm has a 50 day moving average of $44.19 and a 200-day moving average of $51.83. Occidental Petroleum Co. has a 52 week low of $40.44 and a 52 week high of $77.84. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 2.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.00 and a current ratio of 1.20.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Co. will post 2.95 earnings per share for the current fiscal year.

Occidental Petroleum Company Profile

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

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