State Street Corp Amends Occidental Petroleum Stake
Ticker: OXY-WT · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 797468
| Field | Detail |
|---|---|
| Company | Occidental Petroleum Corp /De/ (OXY-WT) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
Related Tickers: OXY
TL;DR
**State Street still holds OXY, signaling institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended Schedule 13G on January 25, 2024, disclosing its ownership of Occidental Petroleum Corp /DE/ common stock as of December 31, 2023. This filing indicates that State Street holds a significant, though passive, stake in Occidental Petroleum. For investors, this means a large institutional player continues to see value in Occidental, potentially signaling stability or confidence in the company's future.
Why It Matters
This filing shows that a major institutional investor, State Street Corporation, maintains a significant position in Occidental Petroleum, which can be a vote of confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor and does not indicate any immediate risk to the company or its stock.
Analyst Insight
Investors should note that a major institutional investor like State Street Corporation continues to hold a stake in Occidental Petroleum, suggesting a degree of stability, but this passive filing doesn't signal any immediate buy or sell action.
Key Numbers
- 674599105 — CUSIP Number (identifies Occidental Petroleum Corp /DE/ common stock)
- 04-2456637 — IRS Identification Number (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Occidental Petroleum Corp /DE/ (company) — the subject company whose common stock is being reported
- 0000093751-24-000237 (dollar_amount) — accession number for the filing
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- State Street Corporation will likely maintain its passive investment in Occidental Petroleum Corp /DE/ for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by passive institutional investors who own more than 5% but less than 20% of a company's stock, to update their ownership information. This specific filing by State Street Corporation updates its stake in Occidental Petroleum Corp /DE/ as of December 31, 2023.
Who is the reporting person in this filing?
The reporting person in this filing is State Street Corporation, a financial institution with IRS Identification No. 04-2456637, located at 1 Congress Street, Boston, MA.
What company's securities are being reported in this filing?
The securities being reported belong to Occidental Petroleum Corp /DE/, identified by CUSIP Number 674599105, with its business address at 5 Greenway Plaza, Suite 110, Houston, TX.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as stated on the cover page of the Schedule 13G.
Under which rule was this Schedule 13G/A filed?
This Schedule 13G/A was filed under Rule 13D-1 (B) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding OCCIDENTAL PETROLEUM CORP /DE/ (OXY-WT).