Fairfield Financial Advisors LTD reduced its stake in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 7.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,402 shares of the oil and gas producer’s stock after selling 1,200 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in Occidental Petroleum were worth $742,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Palumbo Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 22.9% in the 3rd quarter. Palumbo Wealth Management LLC now owns 25,458 shares of the oil and gas producer’s stock valued at $1,312,000 after purchasing an additional 4,742 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Occidental Petroleum by 60.6% in the 3rd quarter. Financial Advocates Investment Management now owns 9,545 shares of the oil and gas producer’s stock valued at $492,000 after purchasing an additional 3,600 shares during the period. Diversify Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 7.8% in the 3rd quarter. Diversify Wealth Management LLC now owns 12,153 shares of the oil and gas producer’s stock valued at $624,000 after purchasing an additional 884 shares during the period. Milestones Administradora de Recursos Ltda. lifted its stake in shares of Occidental Petroleum by 151.3% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 175,320 shares of the oil and gas producer’s stock valued at $9,036,000 after purchasing an additional 105,560 shares during the period. Finally, Cutter & CO Brokerage Inc. lifted its stake in shares of Occidental Petroleum by 32.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 105,823 shares of the oil and gas producer’s stock valued at $5,454,000 after purchasing an additional 25,927 shares during the period. 88.70% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
OXY has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Evercore ISI lowered their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Stephens restated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. BMO Capital Markets cut their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Finally, Susquehanna cut their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $65.72.
Occidental Petroleum Stock Performance
OXY traded down $0.30 during trading on Thursday, reaching $49.87. 3,713,044 shares of the company’s stock were exchanged, compared to its average volume of 9,107,907. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The stock has a market capitalization of $45.16 billion, a P/E ratio of 12.36 and a beta of 1.57. The company’s fifty day simple moving average is $53.09 and its 200-day simple moving average is $58.83. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Occidental Petroleum Co. will post 3.31 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.
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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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