Signaturefd LLC Sells 3,173 Shares of Occidental Petroleum Co. (NYSE:OXY)

Signaturefd LLC lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,938 shares of the oil and gas producer’s stock after selling 3,173 shares during the quarter. Signaturefd LLC’s holdings in Occidental Petroleum were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the 1st quarter worth about $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth about $44,000. Strategic Financial Concepts LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth about $53,000. Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum during the third quarter worth about $87,000. Finally, Tobam grew its holdings in shares of Occidental Petroleum by 28.8% during the third quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock worth $98,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY opened at $51.57 on Friday. The stock has a fifty day simple moving average of $53.59 and a two-hundred day simple moving average of $59.40. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company has a market cap of $46.70 billion, a price-to-earnings ratio of 12.70 and a beta of 1.57. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.91% and a net margin of 16.62%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Research analysts predict that Occidental Petroleum Co. will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. UBS Group cut their target price 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. Wolfe Research started coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Finally, Scotiabank lowered their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.72.

About Occidental Petroleum

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.