Intech Investment Management LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 50.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,231 shares of the oil and gas producer’s stock after selling 109,656 shares during the period. Intech Investment Management LLC’s holdings in Occidental Petroleum were worth $6,403,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Occidental Petroleum in the third quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in Occidental Petroleum during the third quarter valued at about $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $28,000. Grove Bank & Trust raised its position in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $34,000. 88.70% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on OXY shares. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Susquehanna upped their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Mizuho lifted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Eleven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $70.94.
Occidental Petroleum Stock Down 0.0 %
OXY traded down $0.01 during midday trading on Friday, hitting $61.95. 4,616,691 shares of the company’s stock traded hands, compared to its average volume of 6,259,468. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The company has a market cap of $54.93 billion, a PE ratio of 16.93 and a beta of 1.64. The stock’s fifty day simple moving average is $65.47 and its 200-day simple moving average is $61.43. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. Occidental Petroleum’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 3.89 earnings per share for the current fiscal year.
Occidental Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.42%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company’s Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.