Exxonmobil Investment Management Inc. TX Decreases Position in Occidental Petroleum Co. (OXY)

Exxonmobil Investment Management Inc. TX decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,677 shares of the oil and gas producer’s stock after selling 17,947 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Occidental Petroleum were worth $8,963,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OXY. Fulton Bank N.A. lifted its stake in Occidental Petroleum by 70.3% in the fourth quarter. Fulton Bank N.A. now owns 36,214 shares of the oil and gas producer’s stock worth $2,668,000 after purchasing an additional 14,954 shares during the last quarter. Atlantic Trust Group LLC lifted its stake in Occidental Petroleum by 7.6% in the third quarter. Atlantic Trust Group LLC now owns 54,432 shares of the oil and gas producer’s stock worth $3,496,000 after purchasing an additional 3,827 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Occidental Petroleum by 0.9% in the third quarter. Parametric Portfolio Associates LLC now owns 2,169,280 shares of the oil and gas producer’s stock worth $139,289,000 after purchasing an additional 19,234 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Occidental Petroleum in the third quarter worth about $1,426,000. Finally, Optimum Investment Advisors bought a new stake in Occidental Petroleum in the third quarter worth about $200,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Co. (NYSE OXY) traded up $0.71 during midday trading on Tuesday, reaching $76.53. 5,780,900 shares of the company’s stock traded hands, compared to its average volume of 3,703,922. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Occidental Petroleum Co. has a fifty-two week low of $57.20 and a fifty-two week high of $76.76. The stock has a market capitalization of $58,210.00, a price-to-earnings ratio of 107.79, a P/E/G ratio of 6.83 and a beta of 0.65.

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

Several brokerages have issued reports on OXY. Cowen reissued a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum in a research note on Thursday, September 28th. Mizuho reaffirmed a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a research report on Friday, November 3rd. Bank of America raised their target price on shares of 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 shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, Barclays raised their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research report on Monday, November 20th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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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.

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

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