Occidental Petroleum Co. (OXY) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its holdings in Occidental Petroleum Co. (NYSE:OXY) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 633,405 shares of the oil and gas producer’s stock after selling 38,856 shares during the period. Gateway Investment Advisers LLC’s holdings in Occidental Petroleum were worth $46,657,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of OXY. Financial Counselors Inc. grew its stake in Occidental Petroleum by 2.7% in the second quarter. Financial Counselors Inc. now owns 11,996 shares of the oil and gas producer’s stock valued at $718,000 after acquiring an additional 311 shares during the period. Dai Ichi Life Insurance Company Ltd grew its stake in Occidental Petroleum by 1.2% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 128,342 shares of the oil and gas producer’s stock valued at $7,684,000 after acquiring an additional 1,573 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Occidental Petroleum by 6.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,719 shares of the oil and gas producer’s stock valued at $821,000 after acquiring an additional 852 shares during the period. Coastline Trust Co grew its stake in Occidental Petroleum by 2.3% in the second quarter. Coastline Trust Co now owns 45,155 shares of the oil and gas producer’s stock valued at $2,703,000 after acquiring an additional 1,015 shares during the period. Finally, Riverhead Capital Management LLC grew its stake in Occidental Petroleum by 4.6% in the second quarter. Riverhead Capital Management LLC now owns 13,681 shares of the oil and gas producer’s stock valued at $819,000 after acquiring an additional 599 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Shares of Occidental Petroleum Co. (NYSE:OXY) traded down $1.26 during midday trading on Wednesday, reaching $75.27. The company had a trading volume of 4,333,000 shares, compared to its average volume of 3,766,830. Occidental Petroleum Co. has a 1 year low of $57.20 and a 1 year high of $76.79. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $57,960.00, a PE ratio of 106.01, a PEG ratio of 6.83 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm posted ($0.15) earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. sell-side analysts forecast that Occidental Petroleum Co. will post 0.8 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the company. Bank of America upped their price objective on Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Cowen reaffirmed a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a research report on Thursday, September 28th. Morgan Stanley upped their price objective on Occidental Petroleum from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Mizuho reaffirmed a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $67.53.

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

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