Tufton Capital Management Sells 1,245 Shares of Occidental Petroleum Corporation $OXY

Tufton Capital Management lowered its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 25,948 shares of the oil and gas producer’s stock after selling 1,245 shares during the quarter. Tufton Capital Management’s holdings in Occidental Petroleum were worth $1,090,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Occidental Petroleum by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after acquiring an additional 12,107,285 shares during the period. H&H International Investment LLC lifted its stake in shares of Occidental Petroleum by 1.8% in the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock worth $682,456,000 after purchasing an additional 249,100 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after purchasing an additional 710,220 shares during the period. Northern Trust Corp lifted its stake in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after purchasing an additional 110,378 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after purchasing an additional 195,742 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OXY shares. Scotiabank increased their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. UBS Group reduced their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.26.

Occidental Petroleum Stock Down 0.6%

NYSE OXY opened at $40.94 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The company has a market capitalization of $40.30 billion, a P/E ratio of 24.23 and a beta of 0.95. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. The stock has a 50 day moving average price of $44.76 and a 200-day moving average price of $43.66.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum 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.