Twin Capital Management Inc. Trims Stock Position in Occidental Petroleum Corporation $OXY

Twin Capital Management Inc. cut its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 34.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,643 shares of the oil and gas producer’s stock after selling 18,342 shares during the period. Twin Capital Management Inc.’s holdings in Occidental Petroleum were worth $1,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Vanguard Group Inc. lifted its holdings in Occidental Petroleum by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after purchasing an additional 8,273,030 shares in the last quarter. State Street Corp grew its holdings 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 valued at $1,649,147,000 after purchasing an additional 615,566 shares during the last quarter. Geode Capital Management LLC increased its stake in Occidental Petroleum by 22.0% in 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. Fairfax Financial Holdings Ltd. Can boosted its holdings in shares of Occidental Petroleum by 0.5% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 6,050,418 shares of the oil and gas producer’s stock valued at $254,118,000 after purchasing an additional 30,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Occidental Petroleum by 11.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock worth $208,165,000 after acquiring an additional 522,408 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wolfe Research cut their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Zacks Research lowered shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set an “underweight” rating on the stock in a report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $47.48.

Occidental Petroleum Stock Performance

NYSE OXY opened at $46.39 on Friday. The stock’s fifty day moving average is $42.36 and its two-hundred day moving average is $43.41. The firm has a market capitalization of $45.70 billion, a P/E ratio of 34.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $52.58.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Insider Activity

In related news, Director William R. Klesse bought 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the purchase, the director directly owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

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.