Nisa Investment Advisors LLC Has $4.45 Million Holdings in Occidental Petroleum Corporation $OXY

Nisa Investment Advisors LLC cut its stake in Occidental Petroleum Corporation (NYSE:OXY) by 11.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 105,337 shares of the oil and gas producer’s stock after selling 13,251 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Occidental Petroleum were worth $4,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OXY. GAMMA Investing LLC raised its holdings in shares of Occidental Petroleum by 28.4% in the 1st quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer’s stock worth $336,000 after buying an additional 1,507 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Occidental Petroleum by 30.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,919 shares of the oil and gas producer’s stock worth $3,609,000 after buying an additional 17,208 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after buying an additional 140,528 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Occidental Petroleum by 1.5% in the 1st quarter. Amalgamated Bank now owns 131,727 shares of the oil and gas producer’s stock worth $6,502,000 after buying an additional 1,929 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer’s stock worth $1,616,000 after buying an additional 309 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OXY. Melius Research began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. UBS Group dropped their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.26.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $40.89 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a market cap of $40.25 billion, a P/E ratio of 24.19 and a beta of 0.95. The firm has a 50 day simple moving average of $45.11 and a 200 day simple moving average of $43.55. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the business posted $1.03 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.