USS Investment Management Ltd Takes Position in Occidental Petroleum Co. (NYSE:OXY)

USS Investment Management Ltd purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,404 shares of the oil and gas producer's stock, valued at approximately $2,194,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benchmark Investment Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $642,000. Fisher Asset Management LLC increased its position in Occidental Petroleum by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock worth $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Rule One Partners LLC increased its position in Occidental Petroleum by 18.1% during the fourth quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock worth $16,083,000 after purchasing an additional 50,000 shares during the last quarter. Mountain Lake Investment Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $618,000. Finally, Milestones Administradora de Recursos Ltda. increased its position in Occidental Petroleum by 10.6% during the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer's stock worth $9,577,000 after purchasing an additional 18,500 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OXY shares. Stephens dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Barclays increased their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. 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. Mizuho dropped their price objective on shares of 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, Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Three equities research 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $53.14.

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 company traded hands, compared to its average volume of 11,236,057. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $40.94 billion, a PE ratio of 17.05 and a beta of 0.81. The company has a 50 day moving average of $42.05 and a two-hundred day moving average of $46.57.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its 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. The company had revenue of $6.80 billion for 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 firm's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 annualized dividend and a yield of 2.31%. Occidental Petroleum's dividend 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.