Notable Runner: Occidental Petroleum Corp (NYSE:OXY) Quarterly Sentiment Report

November 24, 2016 - By Nellie Frank   ·   0 Comments

Notable Runner: Occidental Petroleum Corp (NYSE:OXY) Quarterly Sentiment Report

Sentiment for Occidental Petroleum Corp (NYSE:OXY)

Occidental Petroleum Corp (NYSE:OXY) institutional sentiment decreased to 1.04 in 2016 Q2. Its down -0.08, from 1.12 in 2016Q1. The ratio is negative, as 458 funds opened new and increased holdings, while 409 cut down and sold their equity positions in Occidental Petroleum Corp. The funds in our partner’s database now hold: 608.99 million shares, up from 591.64 million shares in 2016Q1. Also, the number of funds holding Occidental Petroleum Corp in their top 10 holdings increased from 14 to 16 for an increase of 2. Sold All: 69 Reduced: 340 Increased: 379 New Position: 79.

Occidental Petroleum Corporation is an gas and oil exploration and production company. The company has a market cap of $53.42 billion. The Firm operates through three divisions: gas and oil, chemical , and midstream and marketing. It currently has negative earnings. The gas and oil segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

The stock increased 0.81% or $0.56 on November 23, hitting $69.85. About 3.96 million shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 7.91% since April 22, 2016 and is downtrending. It has underperformed by 13.32% the S&P500.

Analysts await Occidental Petroleum Corporation (NYSE:OXY) to report earnings on February, 2. They expect $0.06 EPS, up 135.29% or $0.23 from last year’s $-0.17 per share. OXY’s profit will be $45.89M for 291.04 P/E if the $0.06 EPS becomes a reality. After $-0.15 actual EPS reported by Occidental Petroleum Corporation for the previous quarter, Wall Street now forecasts -140.00% EPS growth.

According to Zacks Investment Research, “Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries.”

Astenbeck Capital Management Llc holds 60.9% of its portfolio in Occidental Petroleum Corporation for 980,000 shares. Adams Asset Advisors Llc owns 4.14 million shares or 53.54% of their US portfolio. Moreover, Mitchell Group Inc has 4.72% invested in the company for 621,985 shares. The Maryland-based Adams Natural Resources Fund Inc. has invested 3.82% in the stock. Levin Capital Strategies L.P., a New York-based fund reported 2.75 million shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 1 insider buy, and 25 selling transactions for $12.68 million net activity.

Occidental Petroleum Corporation (NYSE:OXY) Ratings Coverage

Ratings analysis reveals 38% of Occidental Petroleum Corporation’s analysts are positive. Out of 16 Wall Street analysts rating Occidental Petroleum Corporation, 6 give it “Buy”, 2 “Sell” rating, while 8 recommend “Hold”. The lowest target is $54 while the high is $95. The stock’s average target of $77.27 is 10.62% above today’s ($69.85) share price. OXY was included in 36 notes of analysts from August 3, 2015. The rating was maintained by UBS with “Neutral” on Thursday, August 4. The firm has “Underweight” rating by JP Morgan given on Monday, September 12. The firm earned “Neutral” rating on Monday, September 14 by Citigroup. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned “Hold” rating by Tudor Pickering on Friday, November 6. The firm has “Sector Perform” rating by Iberia Capital Partners given on Thursday, December 17. The rating was downgraded by Jefferies on Tuesday, January 12 to “Hold”. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, October 29 report. RBC Capital Markets maintained Occidental Petroleum Corporation (NYSE:OXY) rating on Friday, July 31. RBC Capital Markets has “Sector Perform” rating and $77 price target. The firm has “Buy” rating by Mizuho given on Thursday, October 6. Morgan Stanley downgraded Occidental Petroleum Corporation (NYSE:OXY) on Monday, June 13 to “Equal-Weight” rating.

OXY Company Profile

Occidental Petroleum Corporation (Occidental), incorporated on April 9, 1986, is an gas and oil exploration and production firm with activities in the United States, the Middle East region and Latin America. The Firm operates through three divisions: gas and oil, chemical (OxyChem), and midstream and marketing. The gas and oil segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas. The chemical (OxyChem) segment makes and markets basic chemicals and vinyls. The midstream, marketing segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. Additionally, the midstream and marketing segment invests in entities that conduct similar activities. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities. Occidental’s domestic upstream gas and oil activities are located in New Mexico and Texas. International activities are located in Bolivia, Colombia, Oman, Qatar and the United Arab Emirates.

More news for Occidental Petroleum Corporation (NYSE:OXY) were recently published by: Wsj.com, which released: “Occidental Petroleum Acquires Permian Basin Assets for $2 Billion” on October 31, 2016. Bizjournals.com‘s article titled: “This oil and gas company just signed a long-term, 120000 square-foot lease …” and published on November 04, 2016 is yet another important article.

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By Nellie Frank


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