State of New Jersey Common Pension Fund D Boosts Stock Holdings in Occidental Petroleum Corporation $OXY

State of New Jersey Common Pension Fund D boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 6.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,899 shares of the oil and gas producer’s stock after buying an additional 14,316 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Occidental Petroleum were worth $11,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Occidental Petroleum by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after acquiring an additional 8,273,030 shares during the last quarter. State Street Corp boosted its position in Occidental Petroleum by 1.6% during the second quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after purchasing an additional 615,566 shares during the period. Geode Capital Management LLC increased its stake in shares of Occidental Petroleum by 22.0% in the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after purchasing an additional 3,267,269 shares in the last quarter. Fairfax Financial Holdings Ltd. Can raised its position in shares of Occidental Petroleum by 0.5% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 6,050,418 shares of the oil and gas producer’s stock valued at $254,118,000 after purchasing an additional 30,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Occidental Petroleum by 11.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock valued at $208,165,000 after purchasing an additional 522,408 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, Director William R. Klesse bought 5,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the transaction, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.49% of the stock is owned by corporate insiders.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $46.02 on Tuesday. The stock’s 50-day simple moving average is $42.86 and its two-hundred day simple moving average is $43.47. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $52.58. The firm has a market capitalization of $45.34 billion, a P/E ratio of 33.84 and a beta of 0.41. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Analyst Ratings Changes

Several research analysts recently commented on OXY shares. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a report on Wednesday, November 12th. Susquehanna cut their price target on Occidental Petroleum from $55.00 to $51.00 and set a “positive” rating for the company in a report on Monday, January 26th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Bank of America increased their price objective on Occidental Petroleum from $44.00 to $45.00 in a report on Tuesday, January 27th. Finally, Raymond James Financial restated an “outperform” rating and issued a $50.00 target price on shares of Occidental Petroleum in a research note on Tuesday, November 25th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.48.

Occidental Petroleum 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.