State Board of Administration of Florida Retirement System increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,118,469 shares of the company’s stock after buying an additional 4,732 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Occidental Petroleum Corporation worth $79,669,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in shares of Occidental Petroleum Corporation during the second quarter worth about $147,818,000. Reaves W H & Co. Inc. boosted its position in shares of Occidental Petroleum Corporation by 2.3% in the second quarter. Reaves W H & Co. Inc. now owns 525,248 shares of the company’s stock worth $39,688,000 after buying an additional 11,862 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Occidental Petroleum Corporation during the third quarter worth about $1,302,000. Boston Private Wealth LLC boosted its position in shares of Occidental Petroleum Corporation by 6.3% in the second quarter. Boston Private Wealth LLC now owns 369,309 shares of the company’s stock worth $27,905,000 after buying an additional 21,903 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Occidental Petroleum Corporation by 2.4% in the third quarter. Nordea Investment Management AB now owns 849,837 shares of the company’s stock worth $61,970,000 after buying an additional 19,902 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Corporation (NYSE:OXY) traded up 0.41% during mid-day trading on Friday, hitting $68.47. 7,394,535 shares of the stock traded hands. Occidental Petroleum Corporation has a 1-year low of $64.37 and a 1-year high of $78.48. The company’s 50 day moving average price is $69.37 and its 200-day moving average price is $71.78. The stock’s market cap is $52.32 billion.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Thursday, February 9th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.70 billion. Occidental Petroleum Corporation had a negative net margin of 5.52% and a negative return on equity of 3.40%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Analysts predict that Occidental Petroleum Corporation will post $1.32 earnings per share for the current year.
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A number of brokerages have recently issued reports on OXY. Scotiabank reiterated a “hold” rating on shares of Occidental Petroleum Corporation in a report on Friday. BMO Capital Markets cut shares of Occidental Petroleum Corporation from an “outperform” rating to a “market perform” rating and set a $70.00 price objective for the company. in a report on Wednesday, January 11th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a report on Friday, December 16th. Barclays PLC reduced their price objective on shares of Occidental Petroleum Corporation from $63.00 to $62.00 and set an “underweight” rating for the company in a report on Thursday, January 26th. Finally, Bank of America Corporation cut shares of Occidental Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $74.26.
In other news, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum Corporation stock in a transaction on Monday, November 14th. The stock was acquired at an average cost of $64.89 per share, for a total transaction of $648,900.00. Following the purchase, the director now owns 47,940 shares in the company, valued at $3,110,826.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen I. Chazen sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $69.12, for a total transaction of $138,240.00. Following the sale, the director now owns 1,581,619 shares of the company’s stock, valued at $109,321,505.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,000 shares of company stock valued at $3,627,780. 0.35% of the stock is owned by company 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.
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