Occidental Petroleum Co. (NYSE:OXY) Stock Position Trimmed by Man Group plc

Man Group plc lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 59.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,389 shares of the oil and gas producer's stock after selling 40,801 shares during the period. Man Group plc's holdings in Occidental Petroleum were worth $1,353,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Berkshire Hathaway Inc raised its stake 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 purchasing an additional 8,896,890 shares during the period. Vanguard Group Inc. raised its stake in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Geode Capital Management LLC raised its stake in Occidental Petroleum by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock worth $701,816,000 after purchasing an additional 398,467 shares during the period. Northern Trust Corp raised its stake in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after purchasing an additional 491,797 shares during the period. Finally, Invesco Ltd. increased its position in shares of Occidental Petroleum by 25.2% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded down $0.07 during trading hours on Thursday, reaching $41.05. The company's stock had a trading volume of 2,222,148 shares, compared to its average volume of 11,202,743. The company's 50 day simple moving average is $41.78 and its 200 day simple moving average is $46.50. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a one year low of $34.79 and a one year high of $64.76. The stock has a market cap of $40.40 billion, a P/E ratio of 16.84 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the firm posted $0.63 EPS. The company's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.34%. Occidental Petroleum's payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a research report on Friday, April 11th. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $81.00 to $64.00 in a report on Monday, March 10th. TD Cowen lowered shares of Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Finally, Stephens lowered their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. 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, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus price target of $53.14.

Occidental Petroleum 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.