Occidental Petroleum Corporation $OXY Shares Sold by Aberdeen Group plc

Aberdeen Group plc trimmed its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 22.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 570,356 shares of the oil and gas producer’s stock after selling 160,802 shares during the period. Aberdeen Group plc’s holdings in Occidental Petroleum were worth $27,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tevis Investment Management purchased a new position in shares of Occidental Petroleum during the 2nd quarter worth about $356,000. Swedbank AB purchased a new position in Occidental Petroleum during the third quarter worth approximately $35,517,000. Gifford Fong Associates increased its holdings in shares of Occidental Petroleum by 41.2% during the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock worth $8,100,000 after buying an additional 50,000 shares during the last quarter. Adams Natural Resources Fund Inc. raised its position in shares of Occidental Petroleum by 1,642.6% in the 2nd quarter. Adams Natural Resources Fund Inc. now owns 128,951 shares of the oil and gas producer’s stock worth $5,417,000 after buying an additional 121,551 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new position in Occidental Petroleum in the third quarter valued at $1,072,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, Director William R. Klesse purchased 5,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 16th. The shares were acquired 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 owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. Scotiabank cut their price objective on Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. TD Cowen upgraded shares of Occidental Petroleum to a “hold” rating in a report on Monday, February 9th. 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. Jefferies Financial Group reduced their price objective on Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 20th. Finally, Zacks Research lowered Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Seven research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.48.

Occidental Petroleum Stock Performance

Shares of OXY opened at $45.92 on Wednesday. The firm has a market cap of $45.24 billion, a price-to-earnings ratio of 33.76 and a beta of 0.41. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $42.94 and its two-hundred day moving average is $43.49. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $52.58.

Occidental Petroleum Company 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.