Boston Private Wealth LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 77.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in OXY. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the 2nd quarter valued at $30,000. Clean Yield Group bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at $29,000. TRUE Private Wealth Advisors bought a new position in shares of Occidental Petroleum in the 2nd quarter valued at $36,000. Hall Laurie J Trustee bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at $33,000. Finally, Edge Wealth Management LLC increased its stake in shares of Occidental Petroleum by 93.3% in the 3rd quarter. Edge Wealth Management LLC now owns 773 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 373 shares during the last quarter. 85.41% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Raymond James decreased 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. Jefferies Financial Group started coverage on Occidental Petroleum in a research report on Friday, August 23rd. They set a “hold” rating and a $47.00 price objective on the stock. Morgan Stanley reduced their price objective on Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co reduced their price objective on Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, August 16th. 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 given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.23.
Shares of NYSE OXY traded up $0.39 during trading on Friday, reaching $39.42. The company had a trading volume of 436,419 shares, compared to its average volume of 8,472,179. The company’s fifty day moving average price is $42.60 and its 200-day moving average price is $48.42. Occidental Petroleum Co. has a 12 month low of $38.47 and a 12 month high of $74.29. The stock has a market cap of $37.44 billion, a P/E ratio of 7.86, a PEG ratio of 3.47 and a beta of 0.85. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.54.
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 analysts’ consensus estimates of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter last year, the firm posted $1.77 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities analysts predict that Occidental Petroleum Co. will post 2.32 earnings per share for the current year.
In related news, Director Margaret M. Foran purchased 1,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $43.15 per share, for a total transaction of $43,150.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 96,203 shares in the company, valued at $4,325,286.88. The disclosure for this purchase can be found here. Insiders acquired a total of 23,500 shares of company stock worth $1,039,775 in the last quarter. Corporate insiders own 0.15% of the company’s stock.
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 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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