Fayez Sarofim & Co Decreases Position in Occidental Petroleum Corporation (OXY)

Xavier Trudeau
Juillet 17, 2017

The fund owned 24,700 shares of the oil and gas company's stock after selling 46,900 shares during the period. Institutional investors and hedge funds own 81.48% of the company's stock. Peapack Gladstone Financial Corp increased its stake in shares of Occidental Petroleum Corporation by 10.5% in the first quarter. South Texas Money Management Ltd. increased its stake in shares of Occidental Petroleum Corporation by 2.8% in the first quarter. Mosaic Family Wealth LLC boosted its position in Occidental Petroleum Corporation by 4.0% in the first quarter. World Asset Management Inc now owns 12,665 shares of the oil and gas exploration company's stock worth $120,000 after buying an additional 570 shares in the last quarter. BlueCrest Capital Management Ltd increased its stake in Encana Corporation by 600.0% in the first quarter. TCW Group Inc. now owns 29,700 shares of the oil and gas company's stock worth $349,000 after buying an additional 2,700 shares during the last quarter.

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Occidental Petroleum Corporation (NYSE OXY) traded up 0.54% during trading on Friday, hitting $59.82. 2,575,077 shares of the company's stock were exchanged. The company's market cap is $9.19 billion. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The stock's 50 day moving average is $60.48 and its 200 day moving average is $64.70. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.08. The business had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.96 billion. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. Occidental Petroleum Corporation's revenue was up 30.6% compared to the same quarter a year ago. During the same period in the prior year, the firm posted ($0.47) EPS. On average, equities research analysts predict that Occidental Petroleum Corporation will post $0.81 earnings per share for the current year. Stockholders of record on Thursday, June 15th were issued a $0.015 dividend. This is a positive change from Occidental Petroleum Corporation's previous quarterly dividend of $0.76. This represents a $0.06 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, June 13th. Encana Corporation's dividend payout ratio (DPR) is presently -31.58%. If you are reading this report on another domain, it was stolen and republished in violation of USA and worldwide copyright & trademark law. If you are viewing this news story on another site, it was copied illegally and reposted in violation of worldwide copyright & trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/07/17/occidental-petroleum-corporation-oxy-position-reduced-by-madison-investment-holdings-inc-updated-updated.html.

A number of research firms recently issued reports on OXY. Mizuho restated a "neutral" rating and issued a $67.00 price target on shares of Occidental Petroleum Corporation in a research note on Tuesday, March 28th. Canaccord Genuity reiterated a buy rating and set a $14.00 price target on shares of Encana Corporation in a report on Saturday, March 11th.

BidaskClub downgraded shares of Encana Corporation (NYSE:ECA) (TSE:ECA) from a sell rating to a strong sell rating in a research note released on Friday, June 23rd. Credit Suisse Group reiterated a "buy" rating and issued a $15.00 price target on shares of Whiting Petroleum Corporation in a report on Friday, March 31st. Finally, Mitsubishi UFJ Financial Group assumed coverage on Occidental Petroleum Corporation in a report on Monday, May 29th. Occidental Petroleum Corporation presently has an average rating of "Hold" and an average target price of $69.61. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Madison Investment Holdings Inc.'s holdings in Occidental Petroleum Corporation were worth $6,450,000 at the end of the most recent reporting period. Also, Director Stephen I. Chazen sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 27th. The stock was acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the transaction, the director now directly owns 1,460,619 shares in the company, valued at approximately $88,411,268.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Finally, Macquarie cut shares of Whiting Petroleum Corporation from an "outperform" rating to a "neutral" rating and upped their target price for the company from $5.30 to $5.70 in a research note on Wednesday, June 21st. BMO Capital Markets decreased their price target on shares of Occidental Petroleum Corporation from $60.00 to $55.00 and set a "market perform" rating for the company in a research note on Friday. Following the purchase, the chief financial officer now directly owns 44,124 shares of the company's stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. Insiders have sold a total of 16,000 shares of company stock worth $978,600 over the last quarter. Company insiders own 0.32% of the company's stock.

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays.

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