Spectrum Asset Management Inc. NB CA Trims Holdings in Occidental Petroleum Co. (NYSE:OXY)

Spectrum Asset Management Inc. NB CA lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 33.3% in the 3rd quarter, Holdings Channel reports. The fund owned 11,593 shares of the oil and gas producer’s stock after selling 5,800 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Occidental Petroleum were worth $601,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. CapWealth Advisors LLC increased its holdings in shares of Occidental Petroleum by 2.7% in the 1st quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock valued at $397,000 after purchasing an additional 162 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in Occidental Petroleum by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after acquiring an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. increased its holdings in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares in the last quarter. Earnest Partners LLC increased its holdings in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after acquiring an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Occidental Petroleum by 0.8% during the 1st quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OXY. Susquehanna dropped their target price on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a report on Friday, October 18th. Truist Financial lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Evercore ISI lowered their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Finally, Mizuho decreased their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $65.72.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Down 1.5 %

OXY stock opened at $51.32 on Thursday. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18. The firm has a market cap of $45.50 billion, a price-to-earnings ratio of 14.02 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The firm has a fifty day moving average price of $53.71 and a two-hundred day moving average price of $59.46.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Research analysts predict that Occidental Petroleum Co. will post 3.43 EPS for the current year.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.