IFM Investors Pty Ltd Reduces Holdings in Occidental Petroleum Co. (NYSE:OXY)

IFM Investors Pty Ltd lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 25.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,468 shares of the oil and gas producer’s stock after selling 34,969 shares during the quarter. IFM Investors Pty Ltd’s holdings in Occidental Petroleum were worth $5,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. Exchange Traded Concepts LLC acquired a new position in Occidental Petroleum in the 3rd quarter worth approximately $87,000. Strategic Investment Solutions Inc. IL purchased a new position in Occidental Petroleum during the 2nd quarter worth approximately $110,000. Finally, Tobam lifted its stake in Occidental Petroleum by 28.8% during the 3rd quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock valued at $98,000 after acquiring an additional 426 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Up 0.4 %

NYSE OXY opened at $51.58 on Friday. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18. The stock has a market capitalization of $46.71 billion, a P/E ratio of 12.70 and a beta of 1.57. The firm’s 50-day moving average is $53.46 and its two-hundred day moving average is $59.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.31 earnings per share for the current year.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Mizuho reduced their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. Barclays lowered their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Susquehanna cut their target price on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.