Pacer Advisors Inc. Has $304.81 Million Position in Occidental Petroleum Corporation $OXY

Pacer Advisors Inc. lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 13.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,689,357 shares of the oil and gas producer’s stock after selling 725,792 shares during the quarter. Pacer Advisors Inc. owned approximately 0.47% of Occidental Petroleum worth $304,808,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after purchasing an additional 699,137 shares during the last quarter. State Street Corp raised its position in Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after purchasing an additional 828,848 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after buying an additional 167,518 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after buying an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after buying an additional 1,071,948 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Susquehanna raised their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. Citigroup decreased their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Wolfe Research raised their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. The Goldman Sachs Group dropped their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Capital One Financial upped their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $64.17.

Occidental Petroleum Stock Down 0.1%

Shares of Occidental Petroleum stock opened at $57.03 on Monday. The stock’s 50-day moving average is $54.43 and its 200 day moving average is $54.05. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The firm has a market cap of $56.73 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.83 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The business 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%.The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Equities research analysts anticipate that Occidental Petroleum Corporation will post 5.43 EPS for the current year.

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.