Patten & Patten Inc. TN lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 10.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,134 shares of the oil and gas producer’s stock after selling 1,355 shares during the quarter. Patten & Patten Inc. TN’s holdings in Occidental Petroleum were worth $997,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of OXY. Standard Life Aberdeen plc raised its holdings in shares of Occidental Petroleum by 1,541.0% in the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after buying an additional 7,122,373 shares during the period. FMR LLC raised its holdings in shares of Occidental Petroleum by 232.5% in the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after buying an additional 4,230,065 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $241,052,000. Swedbank purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $112,990,000. Finally, Mainstay Capital Management LLC ADV grew its stake in Occidental Petroleum by 3,725.2% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,198,297 shares of the oil and gas producer’s stock worth $15,434,000 after purchasing an additional 1,166,971 shares in the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.
OXY has been the subject of several analyst reports. Piper Jaffray Companies initiated coverage on Occidental Petroleum in a research note on Friday, September 28th. They set an “overweight” rating for the company. JPMorgan Chase & Co. lowered their target price on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Edward Jones raised Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Morgan Stanley initiated coverage on Occidental Petroleum in a research note on Thursday, July 12th. They set an “overweight” rating and a $100.00 target price for the company. Finally, Bank of America boosted their target price on Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $84.06.
NYSE:OXY opened at $72.92 on Thursday. The stock has a market cap of $62.84 billion, a PE ratio of 81.93, a price-to-earnings-growth ratio of 3.01 and a beta of 0.58. Occidental Petroleum Co. has a 1 year low of $62.47 and a 1 year high of $87.67. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 4.96 earnings per share for the current year.
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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