Occidental Petroleum Corporation $OXY Stock Position Decreased by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 59.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,934 shares of the oil and gas producer’s stock after selling 19,041 shares during the quarter. Shell Asset Management Co.’s holdings in Occidental Petroleum were worth $611,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in OXY. Moody National Bank Trust Division lifted its stake in shares of Occidental Petroleum by 1.5% in the third quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock worth $735,000 after buying an additional 229 shares during the last quarter. Inscription Capital LLC raised its holdings in Occidental Petroleum by 0.8% in the 3rd quarter. Inscription Capital LLC now owns 32,734 shares of the oil and gas producer’s stock worth $1,547,000 after acquiring an additional 271 shares during the period. Cigna Investments Inc. New raised its holdings in Occidental Petroleum by 4.3% in the 3rd quarter. Cigna Investments Inc. New now owns 6,809 shares of the oil and gas producer’s stock worth $321,000 after acquiring an additional 280 shares during the period. Greenleaf Trust boosted its holdings in Occidental Petroleum by 2.7% during the third quarter. Greenleaf Trust now owns 11,330 shares of the oil and gas producer’s stock valued at $535,000 after acquiring an additional 296 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of Occidental Petroleum by 0.8% in the third quarter. Louisiana State Employees Retirement System now owns 37,700 shares of the oil and gas producer’s stock valued at $1,781,000 after purchasing an additional 300 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on OXY. Zacks Research lowered Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Barclays started coverage on Occidental Petroleum in a research report on Wednesday, January 21st. They issued an “equal weight” rating for the company. Scotiabank dropped their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. JPMorgan Chase & Co. reduced their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set an “underweight” rating for the company in a report on Tuesday, January 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Wednesday, November 12th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $47.48.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $46.02 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. The business’s fifty day moving average price is $42.86 and its two-hundred day moving average price is $43.47. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $52.58. The stock has a market capitalization of $45.34 billion, a price-to-earnings ratio of 33.84 and a beta of 0.41.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction on Tuesday, December 16th. The shares were bought at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by insiders.

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.