Astenbeck Capital Management LLC Takes Position in Occidental Petroleum Corporation (OXY)

Astenbeck Capital Management LLC purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, Holdings Channel reports. The firm purchased 980,000 shares of the company’s stock, valued at approximately $71,461,000. Occidental Petroleum Corporation makes up approximately 57.3% of Astenbeck Capital Management LLC’s investment portfolio, making the stock its largest position. Astenbeck Capital Management LLC owned approximately 0.13% of Occidental Petroleum Corporation at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Usca Ria LLC raised its position in shares of Occidental Petroleum Corporation by 1.6% in the third quarter. Usca Ria LLC now owns 25,121 shares of the company’s stock valued at $1,832,000 after buying an additional 406 shares during the period. Capital International Sarl increased its stake in Occidental Petroleum Corporation by 2.6% in the third quarter. Capital International Sarl now owns 110,550 shares of the company’s stock valued at $8,061,000 after buying an additional 2,800 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Occidental Petroleum Corporation by 13.5% in the third quarter. Panagora Asset Management Inc. now owns 127,944 shares of the company’s stock valued at $9,330,000 after buying an additional 15,194 shares in the last quarter. National Asset Management Inc. increased its stake in Occidental Petroleum Corporation by 20.6% in the third quarter. National Asset Management Inc. now owns 13,181 shares of the company’s stock valued at $963,000 after buying an additional 2,253 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Occidental Petroleum Corporation during the third quarter valued at $1,533,000. Institutional investors own 81.82% of the company’s stock.

Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 68.47 on Friday. Occidental Petroleum Corporation has a one year low of $64.37 and a one year high of $78.48. The stock’s market capitalization is $52.32 billion. The stock’s 50 day moving average is $69.37 and its 200-day moving average is $71.78.

Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Thursday, February 9th. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.10. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Occidental Petroleum Corporation had a negative return on equity of 3.40% and a negative net margin of 5.52%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS. On average, equities research analysts predict that Occidental Petroleum Corporation will post $1.32 EPS for the current fiscal year.

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Several analysts have recently weighed in on OXY shares. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Occidental Petroleum Corporation in a research note on Saturday, January 14th. Bank of America Corporation downgraded shares of Occidental Petroleum Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 4th. Barclays PLC decreased their price target on shares of Occidental Petroleum Corporation from $63.00 to $62.00 and set an “underweight” rating for the company in a research note on Thursday, January 26th. Goldman Sachs Group, Inc. (The) raised shares of Occidental Petroleum Corporation from a “sell” rating to a “neutral” rating and set a $75.00 price target for the company in a research note on Friday, December 16th. Finally, BMO Capital Markets downgraded shares of Occidental Petroleum Corporation from an “outperform” rating to a “market perform” rating and set a $70.00 price target for the company. in a research note on Wednesday, January 11th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and an average price target of $74.26.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was bought at an average price of $64.89 per share, with a total value of $648,900.00. Following the transaction, the director now directly owns 47,940 shares of the company’s stock, valued at approximately $3,110,826.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $67.33, for a total transaction of $269,320.00. Following the completion of the transaction, the director now directly owns 1,537,719 shares of the company’s stock, valued at approximately $103,534,620.27. The disclosure for this sale can be found here. Insiders sold a total of 52,000 shares of company stock valued at $3,627,780 in the last three months. 0.35% of the stock is currently owned by corporate insiders.

About Occidental Petroleum Corporation

Occidental Petroleum Corporation is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

5 Day Chart for NYSE:OXY

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).

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