Janus Henderson Group PLC Sells 1,950,509 Shares of Occidental Petroleum Co. (NYSE:OXY)

Janus Henderson Group PLC lowered its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 93.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,318 shares of the oil and gas producer's stock after selling 1,950,509 shares during the period. Janus Henderson Group PLC's holdings in Occidental Petroleum were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Brookstone Capital Management grew its position in shares of Occidental Petroleum by 13.3% in the 4th quarter. Brookstone Capital Management now owns 11,630 shares of the oil and gas producer's stock valued at $575,000 after acquiring an additional 1,367 shares during the period. Park Avenue Securities LLC grew its position in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after acquiring an additional 250 shares during the period. Carnegie Investment Counsel grew its position in shares of Occidental Petroleum by 22.5% in the 4th quarter. Carnegie Investment Counsel now owns 55,370 shares of the oil and gas producer's stock valued at $2,736,000 after acquiring an additional 10,167 shares during the period. Certified Advisory Corp bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $476,000. Finally, Empirical Asset Management LLC bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $2,639,000. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on OXY shares. TD Cowen downgraded shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price objective for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, The Goldman Sachs Group cut shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and cut their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.48.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $43.02 on Friday. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. 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 company has a 50-day simple moving average of $42.69 and a two-hundred day simple moving average of $46.98. The stock has a market capitalization of $42.34 billion, a price-to-earnings ratio of 17.63 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business's revenue was up 13.9% on a year-over-year basis. Analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is presently 39.02%.

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.

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