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Are Institutional Investors Accumulating Occidental Petroleum Stock?

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Occidental Petroleum’s 13F filers’ statistics

In 3Q16, 459 funds were listed as buyers of Occidental Petroleum (OXY) stock, and 471 funds were listed as sellers of OXY. As a result, total selling funds outnumbered total buying funds by 12 in 3Q16.

On September 30, 2016, 1,012 13F filers held OXY in their portfolios. Of these, 19 filers have OXY in their top ten holdings. Even when seen from the aggregate shares point of view, for 3Q16, 13F filers reduced their aggregate OXY positions ~1%, or from ~617.6 million shares to ~613.1 million shares.

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Notable reductions

Among the notable reductions, JPMorgan Chase (JPM) reduced its OXY holdings 14%. In 3Q16, JPM sold ~4.9 million shares of OXY to bring its total OXY position to ~29.4 million shares. OXY constitutes 0.53% of JPMorgan Chase’s portfolio.

Boston Partners also reduced its OXY holdings ~37% to ~7.0 million shares from ~11.2 million shares. OXY constitutes 0.72% of Boston Partners’s portfolio.

On September 30, 2016, Occidental Petroleum had ~764 million common shares outstanding. The Form 13F is an SEC mandate that must be submitted by all institutional investors who manage more than $100 million in assets.

Other upstream players

In 3Q16, 13F filers reduced their aggregate share positions in upstream companies such as EOG Resources (EOG), Consol Energy (CNX), and ConocoPhillips (COP).

The ISE-Revere Nat Gas Index ETF (FCG) invests in natural gas producers, whereas the Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.

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