ETRADE Capital Management LLC Reduces Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

ETRADE Capital Management LLC cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,856 shares of the oil and gas producer’s stock after selling 8,894 shares during the period. ETRADE Capital Management LLC’s holdings in Occidental Petroleum were worth $1,005,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great Diamond Partners LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth $37,000. BlackRock Inc. boosted its holdings in Occidental Petroleum by 0.5% during the first quarter. BlackRock Inc. now owns 59,085,102 shares of the oil and gas producer’s stock worth $684,205,000 after buying an additional 317,174 shares in the last quarter. Loews Corp boosted its holdings in Occidental Petroleum by 49.0% during the fourth quarter. Loews Corp now owns 15,128 shares of the oil and gas producer’s stock worth $623,000 after buying an additional 4,973 shares in the last quarter. Aviance Capital Partners LLC boosted its holdings in Occidental Petroleum by 2.8% during the fourth quarter. Aviance Capital Partners LLC now owns 11,709 shares of the oil and gas producer’s stock worth $483,000 after buying an additional 322 shares in the last quarter. Finally, Capital Investment Advisory Services LLC boosted its holdings in Occidental Petroleum by 70.3% during the first quarter. Capital Investment Advisory Services LLC now owns 12,566 shares of the oil and gas producer’s stock worth $146,000 after buying an additional 5,189 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE OXY opened at $14.13 on Friday. The firm has a 50-day simple moving average of $14.20 and a 200-day simple moving average of $30.48. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of -3.34 and a beta of 1.99. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 1.71. Occidental Petroleum Co. has a 52 week low of $9.00 and a 52 week high of $54.05.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported ($0.52) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. Occidental Petroleum had a negative net margin of 13.85% and a positive return on equity of 1.24%. The firm had revenue of $6.45 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period last year, the business earned $0.84 earnings per share. Occidental Petroleum’s revenue was up 57.8% compared to the same quarter last year. As a group, equities research analysts expect that Occidental Petroleum Co. will post -4.14 EPS for the current year.

OXY has been the topic of a number of recent analyst reports. Susquehanna Bancshares downgraded shares of Occidental Petroleum from a “positive” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Monday, March 16th. ValuEngine raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Friday, May 1st. Bank of America reaffirmed a “neutral” rating and set a $18.00 price objective (up from $15.00) on shares of Occidental Petroleum in a report on Wednesday, May 6th. SunTrust Banks raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating and increased their price objective for the company from $10.00 to $13.00 in a report on Wednesday, May 6th. Finally, Morgan Stanley downgraded shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $59.00 to $7.00 in a report on Monday, March 16th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.14.

In related news, SVP Oscar K. Brown sold 30,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $14.85, for a total transaction of $445,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elisse B. Walter acquired 3,758 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average price of $32.93 per share, with a total value of $123,750.94. Over the last 90 days, insiders have purchased 38,758 shares of company stock valued at $631,351. 0.21% of the stock is owned by company insiders.

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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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

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