ClariVest Asset Management LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 320,105 shares of the oil and gas producer’s stock after selling 118,911 shares during the quarter. ClariVest Asset Management LLC’s holdings in Occidental Petroleum were worth $19,649,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Occidental Petroleum by 232.5% in the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after buying an additional 4,230,065 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in Occidental Petroleum by 5.8% in the 3rd quarter. Capital Investment Advisors LLC now owns 24,966 shares of the oil and gas producer’s stock valued at $2,051,000 after buying an additional 1,379 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Occidental Petroleum by 51.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 561,600 shares of the oil and gas producer’s stock valued at $46,147,000 after buying an additional 190,200 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Occidental Petroleum in the 3rd quarter valued at about $747,000. Finally, Deprince Race & Zollo Inc. lifted its stake in Occidental Petroleum by 11.6% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 489,323 shares of the oil and gas producer’s stock valued at $40,208,000 after buying an additional 50,867 shares in the last quarter. 81.12% of the stock is owned by institutional investors.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. ValuEngine downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. BMO Capital Markets reiterated a “neutral” rating on shares of Occidental Petroleum in a report on Wednesday, November 14th. Argus reiterated a “buy” rating and issued a $97.00 price objective on shares of Occidental Petroleum in a report on Monday, November 26th. Finally, Cowen assumed coverage on shares of Occidental Petroleum in a report on Thursday, November 29th. They issued a “market perform” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $87.16.
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Occidental Petroleum Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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