Meitav Investment House Ltd. Decreases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Meitav Investment House Ltd. cut its position in Occidental Petroleum Co. (NYSE:OXY) by 45.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,799 shares of the oil and gas producer’s stock after selling 11,646 shares during the quarter. Meitav Investment House Ltd.’s holdings in Occidental Petroleum were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Effects LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at $237,000. Cerity Partners LLC boosted its stake in Occidental Petroleum by 42.3% during the 4th quarter. Cerity Partners LLC now owns 34,958 shares of the oil and gas producer’s stock valued at $2,087,000 after acquiring an additional 10,387 shares during the last quarter. Graphene Investments SAS boosted its stake in Occidental Petroleum by 23.1% during the 4th quarter. Graphene Investments SAS now owns 52,700 shares of the oil and gas producer’s stock valued at $3,147,000 after acquiring an additional 9,900 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Occidental Petroleum by 35.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 26,869 shares of the oil and gas producer’s stock valued at $1,604,000 after acquiring an additional 7,007 shares during the last quarter. Finally, Tobam boosted its stake in Occidental Petroleum by 22.5% during the 4th quarter. Tobam now owns 8,176 shares of the oil and gas producer’s stock valued at $488,000 after acquiring an additional 1,503 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock traded up $1.15 during trading hours on Friday, reaching $70.41. The stock had a trading volume of 8,703,536 shares, compared to its average volume of 8,700,258. The firm has a 50-day simple moving average of $62.23 and a 200-day simple moving average of $61.03. The firm has a market capitalization of $62.42 billion, a PE ratio of 18.01 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.19.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. Occidental Petroleum’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.84 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Analyst Ratings Changes

A number of research analysts have commented on OXY shares. Morgan Stanley increased their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Barclays began coverage on shares of Occidental Petroleum in a research note on Wednesday. They set an “equal weight” rating and a $73.00 price objective on the stock. Raymond James dropped their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Stephens reissued an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. Finally, Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Occidental Petroleum Profile

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.