Kempner Capital Management Inc. Sells 778 Shares of Occidental Petroleum Corporation (OXY)

Kempner Capital Management Inc. reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,943 shares of the oil and gas producer’s stock after selling 778 shares during the period. Occidental Petroleum comprises 3.4% of Kempner Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Kempner Capital Management Inc.’s holdings in Occidental Petroleum were worth $5,373,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Glassman Wealth Services increased its holdings in Occidental Petroleum by 0.3% during the second quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 8 shares during the last quarter. Good Life Advisors LLC increased its stake in shares of Occidental Petroleum by 0.8% in the second quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock worth $436,000 after purchasing an additional 58 shares in the last quarter. AMG Funds LLC increased its stake in shares of Occidental Petroleum by 0.5% in the second quarter. AMG Funds LLC now owns 25,547 shares of the oil and gas producer’s stock worth $1,529,000 after purchasing an additional 136 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its stake in shares of Occidental Petroleum by 6.0% in the second quarter. Bank of Nova Scotia Trust Co. now owns 4,734 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 267 shares in the last quarter. Finally, Stellar Capital Management LLC increased its stake in shares of Occidental Petroleum by 1.0% in the second quarter. Stellar Capital Management LLC now owns 26,568 shares of the oil and gas producer’s stock worth $1,591,000 after purchasing an additional 270 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on OXY. Cowen reissued a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum in a research note on Thursday, September 28th. Mizuho reissued a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 3rd. Bank of America increased their price objective on shares of Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Finally, Barclays increased their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $67.00.

Occidental Petroleum Corporation (OXY) traded down $0.30 on Tuesday, reaching $74.89. 2,980,000 shares of the company traded hands, compared to its average volume of 3,900,000. The stock has a market capitalization of $57,310.00, a PE ratio of 105.48, a price-to-earnings-growth ratio of 7.19 and a beta of 0.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.44. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. Occidental Petroleum’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted ($0.15) earnings per share. analysts anticipate that Occidental Petroleum Corporation will post 0.79 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was first published by Markets Daily and is the sole property of of Markets Daily. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.themarketsdaily.com/2018/01/09/kempner-capital-management-inc-sells-778-shares-of-occidental-petroleum-corporation-oxy.html.

Occidental Petroleum Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

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

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply