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Are Hedge Funds Buying Occidental Petroleum?

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Jun. 28 2018, Updated 10:31 a.m. ET

13F filings: hedge fund statistics

In this article, we’ll take a look at how hedge funds are positioning themselves in Occidental Petroleum (OXY) stock.

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Buyers and sellers

In the first quarter, 66 hedge funds were “buyers” of Occidental, either creating new positions or adding to their existing positions in the stock. In the same quarter, 39 hedge funds were “sellers,” either closing their entire positions or reducing their existing positions in the stock. In the first quarter, total buying hedge funds outnumbered total selling hedge funds by 27. On March 31, 97 hedge funds that filed 13F forms held OXY in their portfolios. Of these, five hedge funds had OXY in their top ten holdings.

However, when looked at in terms of the aggregate number of shares, in the first quarter, 13F filing hedge funds decreased their aggregate OXY holdings by 0.43%, or from ~49.4 million shares to ~49.1 million shares.

For context, in the first quarter, 13F filing hedge funds increased their aggregate holdings in other oil and gas production companies Murphy Oil (MUR), ConocoPhillips (COP), and Range Resources (RRC) by ~0.35%, ~10.7%, and ~23.1%, respectively.

Form 13F is a Securities and Exchange Commission mandate. It needs to be submitted by all hedge funds that manage more than $100 million in assets. These hedge funds have access to in-depth research and greater capital. Typically, when institutional investors buy a stock, there’s a chance that the stock will do well.

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