Glenmede Trust Co. NA increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 328.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,813 shares of the oil and gas producer’s stock after acquiring an additional 39,708 shares during the period. Glenmede Trust Co. NA’s holdings in Occidental Petroleum were worth $3,368,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. Woodline Partners LP grew its stake in shares of Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after purchasing an additional 16,506 shares during the period. Marshall Wace LLP acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $4,584,000. Federated Hermes Inc. lifted its stake in shares of Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 7,285 shares in the last quarter. Finally, AXA S.A. grew its position in Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after buying an additional 26,741 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Occidental Petroleum Stock Performance
NYSE:OXY opened at $55.11 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $54.31 and a two-hundred day moving average price of $54.22. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a market capitalization of $54.81 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.15.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on OXY. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. BMO Capital Markets boosted their price target on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Weiss Ratings cut Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Roth Capital lifted their price objective on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.17.
Check Out Our Latest Stock Analysis on Occidental Petroleum
Insider Buying and Selling at Occidental Petroleum
In related news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.
About Occidental Petroleum
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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