Fagan Associates Inc. Cuts Position in Occidental Petroleum Co. (NYSE:OXY)

Fagan Associates Inc. decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 9.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 81,131 shares of the oil and gas producer’s stock after selling 8,399 shares during the period. Fagan Associates Inc.’s holdings in Occidental Petroleum were worth $4,009,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum in the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Occidental Petroleum in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $48.98 on Wednesday. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The firm’s 50-day simple moving average is $49.01 and its 200 day simple moving average is $51.45. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a market cap of $45.96 billion, a P/E ratio of 12.75 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 15.89% and a return on equity of 15.98%. Equities analysts expect that Occidental Petroleum Co. will post 3.34 EPS for the current year.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 6,854,394 shares of company stock worth $315,101,532 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OXY shares. Citigroup dropped their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Stephens lifted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.71.

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.