Silvant Capital Management LLC Cuts Position in Occidental Petroleum Co. (NYSE:OXY)

Silvant Capital Management LLC reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Fortitude Family Office LLC boosted its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum in the first quarter worth about $44,000. LRI Investments LLC purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. Exchange Traded Concepts LLC acquired a new position in Occidental Petroleum during the 3rd quarter worth approximately $87,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Occidental Petroleum in the 2nd quarter worth approximately $110,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OXY. Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective on the stock. Stephens reiterated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Barclays decreased their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. BMO Capital Markets dropped their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, Wells Fargo & Company reduced their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.72.

Occidental Petroleum Trading Down 1.1 %

Shares of NYSE OXY opened at $49.57 on Friday. The stock’s 50 day moving average price is $52.82 and its two-hundred day moving average price is $58.58. Occidental Petroleum Co. has a 52-week low of $49.51 and a 52-week high of $71.18. The stock has a market capitalization of $44.89 billion, a P/E ratio of 12.21 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. On average, analysts anticipate that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

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.