Fosun International Ltd Sells 2,000 Shares of Occidental Petroleum Co. (NYSE:OXY)

Fosun International Ltd decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,850 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Occidental Petroleum makes up 0.1% of Fosun International Ltd’s holdings, making the stock its 29th biggest position. Fosun International Ltd’s holdings in Occidental Petroleum were worth $528,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of Occidental Petroleum by 600.4% during the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after purchasing an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in Occidental Petroleum by 51.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after buying an additional 797,894 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the third quarter valued at about $29,665,000. Finally, Assenagon Asset Management S.A. boosted its stake in Occidental Petroleum by 1,279.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock valued at $13,847,000 after buying an additional 215,091 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.2 %

Shares of NYSE:OXY traded up $0.74 during mid-day trading on Thursday, hitting $64.42. 1,406,122 shares of the company traded hands, compared to its average volume of 8,393,442. The stock has a market cap of $57.11 billion, a P/E ratio of 16.29 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The stock has a 50-day moving average price of $64.98 and a two-hundred day moving average price of $61.34.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Occidental Petroleum’s quarterly revenue was down 17.2% on a year-over-year basis. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.37%. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OXY shares. Raymond James reduced their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. HSBC started coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Morgan Stanley raised their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Truist Financial increased their target price on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.00.

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.