Illinois Municipal Retirement Fund Sells 41,292 Shares of Occidental Petroleum Corporation $OXY

Illinois Municipal Retirement Fund trimmed its position in Occidental Petroleum Corporation (NYSE:OXY) by 19.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,073 shares of the oil and gas producer’s stock after selling 41,292 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Occidental Petroleum were worth $8,036,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OXY. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 10.3% during 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 acquiring an additional 8,273,030 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 3,267,269 shares during the period. Swedbank AB bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $35,517,000. American Century Companies Inc. increased its holdings in Occidental Petroleum by 22.3% during the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock valued at $149,247,000 after buying an additional 647,243 shares during the period. Finally, State Street Corp raised its stake in Occidental Petroleum by 1.6% in the second quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after buying an additional 615,566 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.2%

OXY stock opened at $46.02 on Friday. The stock has a market capitalization of $45.34 billion, a PE ratio of 33.84 and a beta of 0.41. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $52.58. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $42.76 and a 200 day moving average of $43.48.

Wall Street Analysts Forecast Growth

OXY has been the topic of several recent research reports. HSBC dropped their target price on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. UBS Group dropped their price objective on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Mizuho boosted their target price on shares of Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Jefferies Financial Group decreased their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Finally, Wolfe Research cut their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.48.

Insider Activity at Occidental Petroleum

In related news, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the acquisition, the director directly owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

About Occidental Petroleum

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.