Asset Management One Co. Ltd. Sells 8,156 Shares of Occidental Petroleum Co. (NYSE:OXY)

Asset Management One Co. Ltd. lowered its position in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 387,828 shares of the oil and gas producer’s stock after selling 8,156 shares during the period. Asset Management One Co. Ltd.’s holdings in Occidental Petroleum were worth $23,832,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. purchased a new position in shares of Occidental Petroleum in the first quarter worth about $334,000. Cibc World Market Inc. boosted its position in shares of Occidental Petroleum by 47.2% in the 1st quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock worth $3,160,000 after purchasing an additional 17,859 shares in the last quarter. Prudential PLC bought a new position in Occidental Petroleum in the 1st quarter valued at approximately $1,124,000. Sequoia Financial Advisors LLC bought a new position in shares of Occidental Petroleum during the 1st quarter valued at $313,000. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of Occidental Petroleum by 12.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock valued at $3,094,000 after buying an additional 6,018 shares during the period. Institutional investors own 78.45% of the company’s stock.

Occidental Petroleum Stock Down 3.1 %

Shares of NYSE:OXY 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. Occidental Petroleum Co. has a 12 month low of $33.22 and a 12 month high of $77.13. The company has a 50-day moving average price of $65.48 and a 200 day moving average price of $66.07. The company has a market cap of $58.56 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.40 and a beta of 1.78.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.04). Occidental Petroleum had a net margin of 35.11% and a return on equity of 59.90%. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.35 billion. As a group, equities research analysts predict that Occidental Petroleum Co. will post 9.64 earnings per share for the current year.

Occidental Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OXY shares. Mizuho reissued a “buy” rating and set a $82.00 price target (up from $81.00) on shares of Occidental Petroleum in a report on Tuesday, January 10th. Credit Suisse Group upped their price objective on Occidental Petroleum from $63.00 to $65.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 9th. Jefferies Financial Group began coverage on Occidental Petroleum in a research note on Wednesday, October 19th. They issued a “hold” rating for the company. Barclays reduced their price objective on Occidental Petroleum from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Morgan Stanley cut their price target on Occidental Petroleum from $74.00 to $71.00 and set an “equal weight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $76.76.

About Occidental Petroleum

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXYGet Rating).

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

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.