Russell Investments Group Ltd. Has $38.07 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Russell Investments Group Ltd. reduced its stake in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 23.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,459 shares of the oil and gas producer’s stock after selling 188,899 shares during the period. Russell Investments Group Ltd.’s holdings in Occidental Petroleum were worth $38,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Dorsey Wright & Associates bought a new position in Occidental Petroleum in the 2nd quarter valued at approximately $1,435,000. Scotia Capital Inc. increased its position in shares of Occidental Petroleum by 623.4% during the second quarter. Scotia Capital Inc. now owns 58,516 shares of the oil and gas producer’s stock worth $3,445,000 after buying an additional 50,427 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Occidental Petroleum by 16.1% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 28,693 shares of the oil and gas producer’s stock worth $1,691,000 after buying an additional 3,970 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Occidental Petroleum by 18.3% during the second quarter. Advisors Asset Management Inc. now owns 26,158 shares of the oil and gas producer’s stock valued at $1,540,000 after acquiring an additional 4,054 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Occidental Petroleum by 5.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 193,166 shares of the oil and gas producer’s stock valued at $12,055,000 after acquiring an additional 9,134 shares during the last quarter. 78.45% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $64.43 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $58.56 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.40 and a beta of 1.78. The business’s 50-day moving average price is $65.48 and its 200-day moving average price is $66.07. Occidental Petroleum Co. has a 12 month low of $33.22 and a 12 month high of $77.13.

Occidental Petroleum (NYSE:OXYGet Rating) last issued its earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.04). The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Occidental Petroleum had a net margin of 35.11% and a return on equity of 59.90%. Sell-side analysts forecast that Occidental Petroleum Co. will post 9.64 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Monday, December 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 9th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 4.33%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho reaffirmed a “buy” rating and set a $82.00 price target (up previously from $81.00) on shares of Occidental Petroleum in a research report on Tuesday, January 10th. Citigroup increased their price objective on shares of Occidental Petroleum from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, November 17th. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $74.00 to $67.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 10th. Barclays decreased their price objective on shares of Occidental Petroleum from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Credit Suisse Group raised their price target on shares of Occidental Petroleum from $63.00 to $65.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.76.

Occidental Petroleum Company Profile

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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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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