Occidental Petroleum Co. (NYSE:OXY) Position Cut by Silvant Capital Management LLC

Silvant Capital Management LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,201 shares of the oil and gas producer’s stock after selling 1,188 shares during the quarter. Silvant Capital Management LLC’s holdings in Occidental Petroleum were worth $580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Mission Wealth Management LP boosted its stake in Occidental Petroleum by 34.6% during the 1st quarter. Mission Wealth Management LP now owns 4,865 shares of the oil and gas producer’s stock valued at $316,000 after purchasing an additional 1,251 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Occidental Petroleum by 34.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,495 shares of the oil and gas producer’s stock valued at $8,152,000 after purchasing an additional 33,453 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Occidental Petroleum by 9.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,001 shares of the oil and gas producer’s stock valued at $1,235,000 after purchasing an additional 1,602 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Occidental Petroleum by 9.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,850 shares of the oil and gas producer’s stock worth $250,000 after acquiring an additional 329 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Occidental Petroleum by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 491,805 shares of the oil and gas producer’s stock worth $31,874,000 after acquiring an additional 15,307 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OXY. Truist Financial reduced their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. UBS Group reduced their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Scotiabank reduced their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Mizuho reduced their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price 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 firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $49.57 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 1 year low of $49.51 and a 1 year high of $71.18. The business has a fifty day simple moving average of $52.82 and a 200 day simple moving average of $58.58. The firm has a market cap of $44.89 billion, a price-to-earnings ratio of 12.21 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last posted 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. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal 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.