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

IFM Investors Pty Ltd lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 25.8% in the 3rd quarter, HoldingsChannel.com reports. 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.

A number of other institutional investors and hedge funds have also made changes to their positions in OXY. New Covenant Trust Company N.A. purchased a new position in Occidental Petroleum in the first quarter worth approximately $44,000. LRI Investments LLC purchased a new stake in shares of Occidental Petroleum during the 1st quarter worth $44,000. Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum during the second quarter worth $53,000. Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the third quarter valued at $87,000. Finally, Tobam raised its stake in Occidental Petroleum by 28.8% in the third quarter. Tobam now owns 1,904 shares of the oil and gas producer’s stock valued at $98,000 after buying an additional 426 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on 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 $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial lowered their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Scotiabank dropped their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho reduced their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.72.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.58 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The firm has a market cap of $46.71 billion, a price-to-earnings ratio of 12.70 and a beta of 1.57. The firm’s fifty day moving average price is $53.46 and its 200 day moving average price is $59.28. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18.

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

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.