Harbor Capital Advisors Inc. Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Harbor Capital Advisors Inc. lowered its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,362 shares of the oil and gas producer's stock after selling 10,006 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Occidental Petroleum were worth $660,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Berkshire Hathaway Inc lifted its holdings in Occidental Petroleum by 3.5% during the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after buying an additional 8,896,890 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after purchasing an additional 398,467 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after purchasing an additional 491,797 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after acquiring an additional 1,278,389 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Down 2.4%

Shares of OXY traded down $1.14 on Monday, hitting $45.32. 19,527,024 shares of the stock traded hands, compared to its average volume of 11,454,172. 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 firm has a market capitalization of $44.60 billion, a P/E ratio of 18.57 and a beta of 0.87. The stock's 50 day moving average is $41.05 and its two-hundred day moving average is $45.80. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Barclays increased their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. UBS Group cut their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their price target on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Company 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.