State of New Jersey Common Pension Fund D Purchases 14,316 Shares of Occidental Petroleum Corporation $OXY

State of New Jersey Common Pension Fund D raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 6.1% during the third quarter, HoldingsChannel reports. The firm owned 250,899 shares of the oil and gas producer’s stock after purchasing an additional 14,316 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Occidental Petroleum were worth $11,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Occidental Petroleum by 10.3% during the 2nd 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 boosted its stake in Occidental Petroleum by 22.0% in the second 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 in the last quarter. Swedbank AB bought a new position in Occidental Petroleum during the third quarter valued at approximately $35,517,000. American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 22.3% during the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock worth $149,247,000 after acquiring an additional 647,243 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Occidental Petroleum by 1.6% in 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. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.49% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of Occidental Petroleum in a report on Tuesday, November 25th. Wolfe Research cut their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Bank of America raised their price objective on Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Finally, HSBC dropped their target price on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.48.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $46.02 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 33.84 and a beta of 0.41. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $52.58. The company has a 50-day moving average price of $42.86 and a 200-day moving average price of $43.47.

About Occidental Petroleum

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.