Torch Wealth Management Lowers stake in Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : Torch Wealth Management reduced its stake in Occidental Petroleum Corporation by 1.38% during the most recent quarter end. The investment management company now holds a total of 39,349 shares of Occidental Petroleum Corporation which is valued at $2,907,891 after selling 550 shares in Occidental Petroleum Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Occidental Petroleum Corporation makes up approximately 2.14% of Torch Wealth Management’s portfolio.

Other Hedge Funds, Including , Weaver C. Barksdale Associates sold out all of its stake in OXY during the most recent quarter. The investment firm sold 9,576 shares of OXY which is valued $705,655.Baltimore-washington Financial Advisors boosted its stake in OXY in the latest quarter, The investment management firm added 80 additional shares and now holds a total of 67,261 shares of Occidental Petroleum Corporation which is valued at $4,956,463. Occidental Petroleum Corporation makes up approx 1.44% of Baltimore-washington Financial Advisors’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in OXY by selling 2,637 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 195,058 shares of OXY which is valued at $14,344,565. Occidental Petroleum Corporation makes up approx 0.30% of Exxonmobil Investment Management Inc Tx’s portfolio.

Occidental Petroleum Corporation closed down -1.08 points or -1.44% at $73.69 with 36,94,799 shares getting traded on Tuesday. Post opening the session at $74.53, the shares hit an intraday low of $73.28 and an intraday high of $74.82 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Occidental Petroleum Corporation reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.19. The company had revenue of $2531.00 million for the quarter, compared to analysts expectations of $2808.30 million. The company’s revenue was down -27.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on Occidental Petroleum Corporation. Occidental Petroleum Corporation was Downgraded by JP Morgan to ” Underweight” on Sep 12, 2016.

Occidental Petroleum Corporation (Occidental) is engaged in the oil and gas exploration and production. The Company through its subsidiaries and affliates operates in the United States Middle East/North Africa and Latin America. Occidental operates through three segments. The oil and gas segment explores for develops and produces oil and condensate natural gas liquids (NGL) and natural gas. The chemical (OxyChem) segment manufactures and markets basic chemicals and vinyls. The midstream marketing and other segment (midstream and marketing) gathers processes transports stores purchases and markets oil condensate NGLs natural gas carbon dioxide (CO2) and power. It also trades around its assets including transportation and storage capacity and trades oil NGLs gas and other commodities.

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