Quantinno Capital Management LP increased its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 39.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,114 shares of the oil and gas producer’s stock after acquiring an additional 86,345 shares during the quarter. Quantinno Capital Management LP’s holdings in Occidental Petroleum were worth $19,767,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. National Pension Service raised its stake in Occidental Petroleum by 13.0% during the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after acquiring an additional 124,879 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after purchasing an additional 699,137 shares during the last quarter. Hosking Partners LLP increased its holdings in shares of Occidental Petroleum by 4.9% in the fourth quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer’s stock valued at $23,741,000 after purchasing an additional 27,030 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Occidental Petroleum by 22.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,385 shares of the oil and gas producer’s stock valued at $4,950,000 after purchasing an additional 22,439 shares during the period. Finally, Swiss National Bank raised its stake in shares of Occidental Petroleum by 7.2% during the first quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock worth $140,947,000 after purchasing an additional 145,100 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Insider Activity
In related news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.
Occidental Petroleum Trading Up 1.9%
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. As a group, sell-side analysts forecast that Occidental Petroleum Corporation will post 5.43 EPS for the current fiscal year.
Analysts Set New Price Targets
OXY has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. UBS Group cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Zacks Research cut shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Roth Capital lifted their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, Morgan Stanley dropped their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $64.17.
Get Our Latest Report on Occidental Petroleum
Occidental Petroleum Company Profile
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.
See Also
- Five stocks we like better than Occidental Petroleum
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY – Free Report).
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.
