Spirit of America Management Corp NY Sells 500 Shares of Occidental Petroleum Co. (NYSE:OXY)

Spirit of America Management Corp NY cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.2% during the third quarter, HoldingsChannel.com reports. The firm owned 41,100 shares of the oil and gas producer’s stock after selling 500 shares during the period. Spirit of America Management Corp NY’s holdings in Occidental Petroleum were worth $2,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $92,433,000. Clean Energy Transition LLP acquired a new position in Occidental Petroleum in the first quarter worth about $67,601,000. Sarasin & Partners LLP bought a new position in Occidental Petroleum during the second quarter worth about $63,880,000. Scharf Investments LLC acquired a new stake in Occidental Petroleum during the second quarter valued at approximately $42,744,000. Finally, American Century Companies Inc. grew its stake in shares of Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Performance

OXY stock opened at $51.35 on Friday. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a market cap of $46.50 billion, a P/E ratio of 12.65 and a beta of 1.57. The business’s fifty day moving average is $53.71 and its 200-day moving average is $59.46.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Equities research analysts forecast that Occidental Petroleum Co. will post 3.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets decreased their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target for the company. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Finally, Bank of America started coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $65.72.

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, 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.