Metis Global Partners LLC Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Metis Global Partners LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,537 shares of the oil and gas producer’s stock after selling 2,147 shares during the period. Metis Global Partners LLC’s holdings in Occidental Petroleum were worth $1,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. PFG Investments LLC raised its stake in Occidental Petroleum by 2.7% during the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock valued at $417,000 after purchasing an additional 170 shares during the period. VisionPoint Advisory Group LLC lifted its holdings in shares of Occidental Petroleum by 1.2% in the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 174 shares in the last quarter. Conning Inc. boosted its position in shares of Occidental Petroleum by 3.6% during the third quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after acquiring an additional 180 shares during the last quarter. Donoghue Forlines LLC grew its stake in Occidental Petroleum by 2.2% during the third quarter. Donoghue Forlines LLC now owns 8,971 shares of the oil and gas producer’s stock valued at $582,000 after acquiring an additional 191 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Occidental Petroleum by 4.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,904 shares of the oil and gas producer’s stock valued at $308,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OXY. Mizuho raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday. Raymond James decreased their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Stephens reaffirmed an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $72.00.

Occidental Petroleum Trading Down 1.1 %

OXY opened at $64.34 on Wednesday. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The stock has a market cap of $57.04 billion, a price-to-earnings ratio of 16.64 and a beta of 1.64. The stock’s 50 day moving average price is $64.98 and its 200-day moving average price is $61.34.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same period last year, the company posted $1.09 earnings per share. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company 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 is Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

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.