Occidental Petroleum (OXY) Market Value Declined While Sasco Capital INC Raised Its Stake

September 17, 2017 - By Nellie Frank

Investors sentiment decreased to 1.03 in Q4 2016. Its down 0.01, from 1.04 in 2016Q3. It fall, as 66 investors sold OXY shares while 349 reduced holdings. 87 funds opened positions while 340 raised stakes. 608.36 million shares or 0.76% more from 603.77 million shares in 2016Q3 were reported. Massachusetts-based Fmr Limited Liability Com has invested 0.01% in Occidental Petroleum Corporation (NYSE:OXY). Exxonmobil Inv Tx holds 0.28% or 176,884 shares. Interactive Advsrs invested in 0.03% or 733 shares. Hartford Investment reported 0.25% in Occidental Petroleum Corporation (NYSE:OXY). Envestnet Asset Mngmt holds 259,221 shares. Davy Asset Management reported 25,082 shares stake. Employees Retirement Systems Of Texas holds 285,700 shares. Proshare Ltd Llc holds 0.13% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 165,178 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt stated it has 0.1% in Occidental Petroleum Corporation (NYSE:OXY). Raymond James Fincl Advisors has 0.1% invested in Occidental Petroleum Corporation (NYSE:OXY) for 165,083 shares. Blackrock reported 1.79M shares. Bollard Group Limited Liability Company reported 13,576 shares. Regions Finance accumulated 457,525 shares. Blue Chip Prtn invested in 1.8% or 64,368 shares. Howe Rusling invested 0.05% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY).

Since March 21, 2017, it had 1 buy, and 4 insider sales for $886,815 activity. On Tuesday, May 2 CHAZEN STEPHEN I sold $237,860 worth of Occidental Petroleum Corporation (NYSE:OXY) or 4,000 shares. Shares for $101,745 were bought by BURGHER CEDRIC W. on Wednesday, June 7.

Sasco Capital Inc increased its stake in Occidental Petroleum (OXY) by 12.36% based on its latest 2016Q4 regulatory filing with the SEC. Sasco Capital Inc bought 215,290 shares as the company’s stock declined 8.50% while stock markets rallied. The institutional investor held 1.96 million shares of the oil & gas production company at the end of 2016Q4, valued at $139.45M, up from 1.74 million at the end of the previous reported quarter. Sasco Capital Inc who had been investing in Occidental Petroleum for a number of months, seems to be bullish on the $46.91B market cap company. The stock decreased 0.37% or $0.23 on September 15, reaching $61.35. About 5.29M shares traded or 56.51% up from the average. Occidental Petroleum Corporation (NYSE:OXY) has declined 18.97% since September 17, 2016 and is downtrending. It has underperformed by 35.67% the S&P500.

Sasco Capital Inc, which manages about $6.25 billion and $3.99B US Long portfolio, decreased its stake in Dow Chemical Co (NYSE:DOW) by 62,200 shares to 2.35M shares, valued at $134.65 million in 2016Q4, according to the filing. It also reduced its holding in Conagra Brands Inc. (NYSE:CAG) by 139,840 shares in the quarter, leaving it with 4.74M shares, and cut its stake in Usg Corp (NYSE:USG).

More recent Occidental Petroleum Corporation (NYSE:OXY) news were published by: Nasdaq.com which released: “Occidental Petroleum Corporation (OXY) Ex-Dividend Date Scheduled for …” on September 07, 2017. Also Seekingalpha.com published the news titled: “4 Reasons Why You Should Consider Occidental Petroleum” on August 28, 2017. Seekingalpha.com‘s news article titled: “The Long-Lost Integrated Company, Occidental Petroleum” with publication date: August 19, 2017 was also an interesting one.

Occidental Petroleum Corporation (NYSE:OXY) Ratings Coverage

Among 21 analysts covering Occidental Petroleum Corporation (NYSE:OXY), 5 have Buy rating, 2 Sell and 14 Hold. Therefore 24% are positive. Occidental Petroleum Corporation has $95 highest and $38 lowest target. $69.39’s average target is 13.11% above currents $61.35 stock price. Occidental Petroleum Corporation had 60 analyst reports since August 3, 2015 according to SRatingsIntel. The rating was downgraded by Tudor Pickering on Friday, November 6 to “Hold”. The firm has “Hold” rating by BMO Capital Markets given on Wednesday, June 21. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned “Underweight” rating by Barclays Capital on Thursday, July 14. The stock of Occidental Petroleum Corporation (NYSE:OXY) has “Underweight” rating given on Friday, August 4 by Barclays Capital. Credit Suisse upgraded the shares of OXY in report on Tuesday, March 14 to “Outperform” rating. As per Tuesday, July 18, the company rating was maintained by Cowen & Co. The firm has “Neutral” rating by Bank of America given on Wednesday, January 4. Citigroup downgraded the shares of OXY in report on Friday, July 21 to “Sell” rating. UBS maintained the stock with “Neutral” rating in Thursday, August 4 report. The company was upgraded on Wednesday, May 10 by JP Morgan.

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