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Institutional Investors’ Views on Occidental Petroleum

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OXY’s recent institutional activity

Fidelity Management & Research and Two Sigma Investments were Occidental Petroleum’s (OXY) biggest buyers during the second quarter, buying 4.2 million and 3.9 million shares, respectively. Meanwhile, American Century Investments and Point72 Asset Management, OXY’s two biggest sellers, sold 3.2 million and 3.1 million shares. Among OXY’s top five buyers and sellers, 2.8 million shares were bought, indicating bullishness.

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Top five holders

The Vanguard Group, BlackRock Institutional Trust, State Street Global Advisors, JP Morgan Asset Management, and Capital World Investors are OXY’s top five institutional holders. The Vanguard Group remained OXY’s largest institutional holder in the second quarter, adding 2.3 million positions. It holds 8.0% of the company.

Analysts’ recommendations

Of the analysts covering OXY, 68.0% recommend “buy,” and 32.0% recommend “hold.” Morgan Stanley recently initiated coverage of OXY with an “overweight” rating, which is equivalent to “buy.” Over the past six months, OXY has seen six rating updates: four upgrades and a coverage initiation with a “buy” rating.

Analysts’ average target price of $97.20 for OXY implies a 23% upside to its current price of $83. In the next article, we’ll look at Anadarko Petroleum’s (APC) recent institutional activity. 

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