Natixis Advisors LLC decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,304 shares of the oil and gas producer’s stock after selling 63,357 shares during the quarter. Natixis Advisors LLC’s holdings in Occidental Petroleum were worth $5,975,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New Mexico Educational Retirement Board grew its position in shares of Occidental Petroleum by 4.1% during the fourth quarter. New Mexico Educational Retirement Board now owns 33,359 shares of the oil and gas producer’s stock valued at $1,372,000 after purchasing an additional 1,300 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Occidental Petroleum by 0.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 258,389 shares of the oil and gas producer’s stock valued at $10,625,000 after purchasing an additional 776 shares in the last quarter. MUFG Securities EMEA plc grew its position in shares of Occidental Petroleum by 2,266.4% during the fourth quarter. MUFG Securities EMEA plc now owns 325,495 shares of the oil and gas producer’s stock valued at $13,384,000 after purchasing an additional 311,740 shares in the last quarter. National Pension Service grew its holdings in Occidental Petroleum by 13.0% during the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after buying an additional 124,879 shares in the last quarter. Finally, Inspire Trust Co. N.A. grew its holdings in Occidental Petroleum by 20.2% during the 4th quarter. Inspire Trust Co. N.A. now owns 119,000 shares of the oil and gas producer’s stock valued at $4,893,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $59.00 to $72.00 in a research report on Tuesday, May 26th. Wolfe Research raised their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Jefferies Financial Group lifted their price objective on shares of Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings upgraded shares of Occidental Petroleum from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.74.
Occidental Petroleum Stock Performance
NYSE:OXY opened at $57.56 on Tuesday. The stock’s fifty day moving average is $58.54 and its 200 day moving average is $50.72. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a market capitalization of $57.26 billion, a PE ratio of 14.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.96 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum’s payout ratio is currently 26.20%.
Occidental Petroleum Profile
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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