The New Jpmorgan Chase & Co Holding in Occidental Petroleum Corp
Jpmorgan Chase & Co filed with the SEC SC 13G/A form for Occidental Petroleum Corp . The form can be accessed here: 000001961716001216. As reported in Jpmorgan Chase & Co’s form, the filler as of late owns 3.5% or 27,236,707 shares of the Energy–company.
Occidental Petroleum Corp stake is a new one for the for this institutional investor and it was filed because of activity on October 31, 2016. We feel this shows Jpmorgan Chase & Co’s positive view for the stock.
Occidental Petroleum Corp Institutional Sentiment
Latest Security and Exchange filings show 929 investors own Occidental Petroleum Corp . The institutional ownership in Q3 2015 is extremely high, at 73.85% of the outstanding shares. This is decreased by 37719684 the total institutional shares. 564377901 were the shares owned by these institutional investors. In total 85 funds opened new Occidental Petroleum Corp stakes, 347 increased stakes. There were 100 that closed positions and 383 reduced them.
19 managers had the stock in their top Ten. Notable investors are: Adams Asset Advisors Llc, Astenbeck Capital Management Llc, Paloma Partners Management Co, Paradigm Asset Management Co Llc, Ironbridge Capital Management Lp, Skba Capital Management Llc, Adams Natural Resources Fund Inc., Cwm Llc, Ferguson Wellman Capital Management Inc, Quantres Asset Management Ltd..
Petroleum & Resources Corp is an institutional investor bullish on Occidental Petroleum Corp , owning 405000 shares as of Q3 2015 for 4.61% of its portfolio. Ferguson Wellman Capital Management Inc owns 656623 shares or 1.93% of its portfolio. NY Encompass Capital Advisors Llc have 9.66% of their stock portfolio for 786161 shares. Further, Arosa Capital Management Lp reported stake worth 6.36% of its US stock portfolio. The TX Adams Asset Advisors Llc owns 4151613 shares. Occidental Petroleum Corp is 51.55% of the manager’s US portfolio.
Occidental Petroleum Corporation is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas. The OxyChem segment manufactures and markets basic chemicals and vinyls. OxyChem owns and operates manufacturing plants at approximately 20 domestic sites in Alabama, Georgia, Illinois, Kansas, Louisiana, Michigan, New Jersey, New York, Ohio, Pennsylvania, Tennessee and Texas, and at two international sites in Canada and Chile. The midstream and marketing segment gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. It also trades around its assets, including transportation and storage capacity. Additionally, the midstream and marketing segment invests in entities that conduct similar activities.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Insitutional Activity: The institutional sentiment decreased to 1.12 in Q2 2016. Its down 0.06, from 1.18 in 2016Q1. The ratio dropped, as 69 funds sold all Occidental Petroleum Corporation shares owned while 340 reduced positions. 79 funds bought stakes while 379 increased positions. They now own 608.99 million shares or 2.93% more from 591.64 million shares in 2016Q1.
Wesbanco State Bank has 24,782 shares for 0.11% of their US portfolio. Davy Asset last reported 0.54% of its portfolio in the stock. Calamos Advsrs Limited Liability Corporation has 332,708 shares for 0.18% of their US portfolio. The Ohio-based Torch Wealth Lc has invested 2.2% in Occidental Petroleum Corporation (NYSE:OXY). National Bank & Trust Of New York Mellon has 16.36M shares for 0.38% of their US portfolio. Bokf Na holds 0.22% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 82,653 shares. Mirae Asset Invs Ltd accumulated 8,825 shares or 0.02% of the stock. Blue Bell Private Wealth Mgmt Ltd Liability owns 1,100 shares or 0.05% of their US portfolio. The New Jersey-based Brave Asset Inc has invested 0% in Occidental Petroleum Corporation (NYSE:OXY). Loews Corporation holds 5,108 shares or 0% of its portfolio. Wagner Bowman Management, a Maryland-based fund reported 5,196 shares. Hennessy Advsr Inc has 32,500 shares for 0.07% of their US portfolio. Martin Currie holds 0.84% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 115,100 shares. Gradient Ltd Liability has 0.05% invested in the company for 6,437 shares. Blb&B last reported 0.37% of its portfolio in the stock.
Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 24 selling transactions for $13.07 million net activity. $664,162 worth of shares were sold by CHAZEN STEPHEN I on Tuesday, October 11.
About 3.50M shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 4.09% since April 6, 2016 and is downtrending. It has underperformed by 7.23% the S&P500.
Occidental Petroleum Corporation is an gas and oil exploration and production company. The company has a market cap of $51.61 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.
Occidental Petroleum Corporation (NYSE:OXY) Ratings Coverage
Out of 16 analysts covering Occidental Petroleum Corporation (NYSE:OXY), 6 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 38% are positive. $95 is the highest target while $54 is the lowest. The $77.27 average target is 15.55% above today’s ($66.87) stock price. Occidental Petroleum Corporation has been the topic of 36 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Friday, July 31 by RBC Capital Markets. The firm has “Neutral” rating given on Monday, May 9 by JP Morgan. The stock has “Buy” rating given by Credit Agricole on Tuesday, December 15. The rating was maintained by Oppenheimer with “Outperform” on Wednesday, September 2. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned “Sector Perform” rating by Iberia Capital Partners on Thursday, December 17. UBS maintained the shares of OXY in a report on Thursday, August 4 with “Neutral” rating. BMO Capital Markets initiated the stock with “Outperform” rating in Tuesday, September 29 report. The rating was maintained by Citigroup on Monday, September 14 with “Neutral”. The stock of Occidental Petroleum Corporation (NYSE:OXY) has “Hold” rating given on Friday, November 6 by Tudor Pickering. The company was maintained on Monday, August 3 by Oppenheimer.
More recent Occidental Petroleum Corporation (NYSE:OXY) news were published by: Wsj.com which released: “Occidental Petroleum Acquires Permian Basin Assets for $2 Billion” on October 31, 2016. Also Moodys.com published the news titled: “Moody’s affirms Occidental Petroleum’s A3 rating and stable outlook” on November 02, 2016. Bizjournals.com‘s news article titled: “This oil and gas company just signed a long-term, 120000 square-foot lease …” with publication date: November 04, 2016 was also an interesting one.
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.”
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.
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