Shell Asset Management Co. Sells 19,041 Shares of Occidental Petroleum Corporation $OXY

Shell Asset Management Co. lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 59.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,934 shares of the oil and gas producer’s stock after selling 19,041 shares during the period. Shell Asset Management Co.’s holdings in Occidental Petroleum were worth $611,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Occidental Petroleum by 10.3% in the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock valued at $3,718,054,000 after purchasing an additional 8,273,030 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Occidental Petroleum by 22.0% during the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after buying an additional 3,267,269 shares during the period. Swedbank AB bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $35,517,000. American Century Companies Inc. raised its position in shares of Occidental Petroleum by 22.3% in the 2nd quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock valued at $149,247,000 after acquiring an additional 647,243 shares during the period. Finally, State Street Corp boosted its stake in Occidental Petroleum by 1.6% during the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after acquiring an additional 615,566 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY opened at $46.02 on Tuesday. The business’s 50-day simple moving average is $42.86 and its 200 day simple moving average is $43.47. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $52.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. The firm has a market capitalization of $45.34 billion, a PE ratio of 33.84 and a beta of 0.41.

Analyst Upgrades and Downgrades

OXY has been the topic of several analyst reports. Jefferies Financial Group cut their target price on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. UBS Group reduced their target price on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Wolfe Research lowered their price target on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Piper Sandler lifted their price objective on Occidental Petroleum from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, Barclays began coverage on Occidental Petroleum in a research note on Wednesday, January 21st. They set an “equal weight” rating for the company. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.48.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction on Tuesday, December 16th. The shares were purchased at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the transaction, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is owned by corporate insiders.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.