Burns J W & Co. Inc. NY boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,574 shares of the oil and gas producer’s stock after purchasing an additional 3,620 shares during the period. Burns J W & Co. Inc. NY’s holdings in Occidental Petroleum were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Barometer Capital Management Inc. acquired a new position in Occidental Petroleum during the third quarter valued at $12,213,000. California Public Employees Retirement System lifted its position in Occidental Petroleum by 3.3% during the third quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after purchasing an additional 64,533 shares during the period. Swiss National Bank lifted its position in Occidental Petroleum by 0.9% during the third quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after purchasing an additional 25,100 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Occidental Petroleum during the third quarter valued at $3,792,000. Finally, Cubist Systematic Strategies LLC lifted its position in Occidental Petroleum by 178.7% during the second quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock valued at $3,502,000 after purchasing an additional 37,499 shares during the period. Institutional investors own 80.24% of the company’s stock.
OXY has been the subject of a number of recent analyst reports. Mizuho set a $79.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a report on Thursday, January 4th. Bank of America cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price objective for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Finally, Credit Suisse Group initiated coverage on shares of Occidental Petroleum in a report on Monday, December 11th. They issued a “neutral” rating and a $62.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.53.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share. equities research analysts expect that Occidental Petroleum Co. will post 0.8 earnings per share for the current year.
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About Occidental Petroleum
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.
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