Pacer Advisors Inc. Has $304.81 Million Stake in Occidental Petroleum Corporation $OXY

Pacer Advisors Inc. reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 13.4% during the first quarter, Holdings Channel.com reports. The firm owned 4,689,357 shares of the oil and gas producer’s stock after selling 725,792 shares during the quarter. Pacer Advisors Inc.’s holdings in Occidental Petroleum were worth $304,808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Woodline Partners LP lifted its position in Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after acquiring an additional 16,506 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Occidental Petroleum in the second quarter worth approximately $4,584,000. Federated Hermes Inc. lifted its holdings in shares of Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after buying an additional 7,285 shares during the last quarter. Finally, AXA S.A. boosted its position in shares of Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after buying an additional 26,741 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OXY shares. Mizuho upped their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Capital One Financial boosted their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. Wolfe Research increased their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Truist Financial dropped their target price on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.17.

Occidental Petroleum Price Performance

OXY opened at $57.03 on Monday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a 50-day moving average of $54.43 and a 200 day moving average of $54.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The firm has a market cap of $56.73 billion, a P/E ratio of 14.37, a PEG ratio of 0.83 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, research analysts expect that Occidental Petroleum Corporation will post 5.43 EPS for the current year.

Insider Activity

In related news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

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.