Man Group plc reduced its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,389 shares of the oil and gas producer's stock after selling 40,801 shares during the quarter. Man Group plc's holdings in Occidental Petroleum were worth $1,353,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum during the fourth quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. Atala Financial Inc bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $40,000. Finally, Millstone Evans Group LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth about $42,000. 88.70% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on OXY. JPMorgan Chase & Co. lowered their price objective on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Mizuho lowered their price objective on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, UBS Group decreased their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $53.14.
Check Out Our Latest Analysis on Occidental Petroleum
Occidental Petroleum Stock Up 0.8%
NYSE:OXY traded up $0.31 during trading hours on Tuesday, reaching $41.60. 7,672,973 shares of the stock were exchanged, compared to its average volume of 11,236,049. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a 50 day moving average of $42.05 and a 200 day moving average of $46.57. The stock has a market cap of $40.94 billion, a PE ratio of 17.05 and a beta of 0.81.
Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The business's revenue was up 13.9% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is presently 39.02%.
Occidental Petroleum Profile
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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.
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