Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,389,353 shares of the oil and gas producer's stock after selling 122,637 shares during the period. Nuveen Asset Management LLC owned about 0.15% of Occidental Petroleum worth $68,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Howard Capital Management Inc. grew its position in shares of Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 248 shares during the period. Park Avenue Securities LLC grew its position in shares of Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after purchasing an additional 250 shares during the period. Horizon Investments LLC grew its position in shares of Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after purchasing an additional 257 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Occidental Petroleum by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock valued at $2,863,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Down 0.8%

Shares of Occidental Petroleum stock traded down $0.35 on Friday, reaching $43.02. The company had a trading volume of 7,555,730 shares, compared to its average volume of 11,191,412. The firm's 50 day moving average price is $42.69 and its two-hundred day moving average price is $46.98. The firm has a market cap of $42.34 billion, a PE ratio of 17.63 and a beta of 0.81. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76. 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 (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 for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion during 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 quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.02%.

Wall Street Analyst Weigh In

OXY has been the topic of several research reports. Stephens decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. UBS Group decreased their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Citigroup decreased their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target on the stock. in a research note on Friday, April 11th. Finally, Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $53.48.

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.