Cullinan Associates Inc. Decreases Stake in Occidental Petroleum Co. (OXY)

Cullinan Associates Inc. decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,788 shares of the oil and gas producer’s stock after selling 3,486 shares during the quarter. Cullinan Associates Inc.’s holdings in Occidental Petroleum were worth $6,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. boosted its position in Occidental Petroleum by 6.0% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 4,734 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 267 shares during the period. Stellar Capital Management LLC boosted its position in Occidental Petroleum by 1.0% during the 2nd quarter. Stellar Capital Management LLC now owns 26,568 shares of the oil and gas producer’s stock valued at $1,591,000 after purchasing an additional 270 shares during the period. Westwood Holdings Group Inc. boosted its position in Occidental Petroleum by 2.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 10,728 shares of the oil and gas producer’s stock valued at $642,000 after purchasing an additional 273 shares during the period. Advisor Group Inc. boosted its position in Occidental Petroleum by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 69,738 shares of the oil and gas producer’s stock valued at $4,164,000 after purchasing an additional 274 shares during the period. Finally, Orleans Capital Management Corp LA boosted its position in Occidental Petroleum by 1.3% during the 2nd quarter. Orleans Capital Management Corp LA now owns 22,594 shares of the oil and gas producer’s stock valued at $1,353,000 after purchasing an additional 300 shares during the period. Institutional investors own 80.24% of the company’s stock.

Shares of Occidental Petroleum Co. (NYSE:OXY) opened at $75.86 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. The firm has a market capitalization of $58,050.00, a price-to-earnings ratio of 106.85, a price-to-earnings-growth ratio of 6.83 and a beta of 0.65. Occidental Petroleum Co. has a 12 month low of $57.20 and a 12 month high of $76.79.

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

A number of research firms recently issued reports on OXY. Mizuho set a $79.00 price objective on Occidental Petroleum and gave the company a “hold” rating in a research report on Tuesday. Macquarie began coverage on Occidental Petroleum in a research report on Wednesday. They set a “neutral” rating for the company. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a research report on Thursday, January 4th. Cowen restated a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a research report on Thursday, September 28th. Finally, Bank of America lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum 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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