Occidental Petroleum Co. (OXY) Shares Sold by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 167,000 shares of the oil and gas producer’s stock after selling 500 shares during the period. Virginia Retirement Systems ET AL’s holdings in Occidental Petroleum were worth $10,250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. We Are One Seven LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at $25,000. Country Trust Bank increased its position in Occidental Petroleum by 434.6% during the 4th quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 339 shares during the period. Heritage Trust Co increased its position in Occidental Petroleum by 496.2% during the 4th quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 387 shares during the period. Lenox Wealth Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at $37,000. Finally, JNBA Financial Advisors increased its position in Occidental Petroleum by 891.2% during the 4th quarter. JNBA Financial Advisors now owns 674 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 606 shares during the period. Institutional investors and hedge funds own 79.78% of the company’s stock.

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OXY traded down $0.95 during midday trading on Thursday, hitting $67.30. 49,405 shares of the company traded hands, compared to its average volume of 4,300,320. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 1.33. The stock has a market capitalization of $51.06 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.45 and a beta of 0.88. Occidental Petroleum Co. has a 52 week low of $56.83 and a 52 week high of $87.67.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. Research analysts forecast that Occidental Petroleum Co. will post 3.18 EPS for the current fiscal year.

A number of research firms have recently weighed in on OXY. Atlantic Securities raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Friday, December 21st. Capital One Financial downgraded shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. KeyCorp began coverage on shares of Occidental Petroleum in a research report on Thursday, December 20th. They issued an “overweight” rating and a $75.00 target price on the stock. Morgan Stanley cut their price objective on shares of Occidental Petroleum from $96.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Finally, Citigroup cut their price objective on shares of Occidental Petroleum from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Occidental Petroleum presently has a consensus rating of “Buy” and an average price target of $83.32.

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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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