Robecosam AG trimmed its stake in Occidental Petroleum Co. (NYSE:OXY) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,459 shares of the oil and gas producer’s stock after selling 14,161 shares during the quarter. Robecosam AG’s holdings in Occidental Petroleum were worth $3,414,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Trust Investment Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter valued at about $2,435,000. United Capital Management of KS Inc. boosted its position in shares of Occidental Petroleum by 19.7% in the fourth quarter. United Capital Management of KS Inc. now owns 3,630 shares of the oil and gas producer’s stock worth $223,000 after buying an additional 597 shares during the period. Morgan Stanley boosted its position in shares of Occidental Petroleum by 17.9% in the third quarter. Morgan Stanley now owns 8,169,766 shares of the oil and gas producer’s stock worth $671,310,000 after buying an additional 1,238,365 shares during the period. IndexIQ Advisors LLC boosted its position in shares of Occidental Petroleum by 67.4% in the third quarter. IndexIQ Advisors LLC now owns 8,424 shares of the oil and gas producer’s stock worth $692,000 after buying an additional 3,391 shares during the period. Finally, Garde Capital Inc. boosted its position in shares of Occidental Petroleum by 20.1% in the third quarter. Garde Capital Inc. now owns 3,645 shares of the oil and gas producer’s stock worth $265,000 after buying an additional 609 shares during the period. 81.12% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on OXY shares. Morgan Stanley decreased their target price on Occidental Petroleum from $96.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Wednesday, October 10th. Citigroup decreased their target price on Occidental Petroleum from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Argus reaffirmed a “buy” rating and issued a $97.00 target price on shares of Occidental Petroleum in a research report on Monday, November 26th. Finally, Capital One Financial downgraded Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $87.16.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Occidental Petroleum’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, equities research analysts predict that Occidental Petroleum Co. will post 4.93 EPS for the current fiscal year.
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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 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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