DekaBank Deutsche Girozentrale Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

DekaBank Deutsche Girozentrale cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 17.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,128 shares of the oil and gas producer’s stock after selling 24,620 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Occidental Petroleum were worth $5,786,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OXY. American Century Companies Inc. raised its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after buying an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. raised its position in Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares during the period. Himalaya Capital Management LLC purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $92,433,000. Cooke & Bieler LP raised its holdings in Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares during the period. Finally, Clean Energy Transition LLP purchased a new stake in Occidental Petroleum during the 1st quarter valued at $67,601,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Mizuho cut their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Susquehanna reduced their price target on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Two 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $50.13 on Friday. The company has a market cap of $45.40 billion, a P/E ratio of 12.35 and a beta of 1.57. 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 stock’s 50-day moving average is $52.97 and its 200 day moving average is $58.77. Occidental Petroleum Co. has a 1-year low of $49.66 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion during 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%. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Research analysts predict that Occidental Petroleum Co. will post 3.31 earnings per share for the current fiscal year.

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 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 directly 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

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.