Castleark Management LLC cut its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 59.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,105 shares of the oil and gas producer's stock after selling 34,510 shares during the period. Castleark Management LLC's holdings in Occidental Petroleum were worth $1,142,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth $27,000. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at about $40,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth about $42,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Stock Performance
Shares of Occidental Petroleum stock opened at $41.13 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock's fifty day moving average is $42.43 and its two-hundred day moving average is $46.83. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76. The company has a market capitalization of $40.48 billion, a PE ratio of 16.86 and a beta of 0.81.
Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.
Occidental Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. UBS Group cut their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their price target for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Mizuho dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Citigroup upped their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $53.14.
Check Out Our Latest Stock Analysis on Occidental Petroleum
About Occidental Petroleum
(
Free Report)
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.
Featured Articles
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:OXY - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Occidental Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.
While Occidental Petroleum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
