Ardevora Asset Management LLP cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 34.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,526 shares of the oil and gas producer's stock after selling 47,017 shares during the period. Ardevora Asset Management LLP's holdings in Occidental Petroleum were worth $5,286,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $28,000. Grove Bank & Trust lifted its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $34,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Stock Performance
Occidental Petroleum stock traded up $0.38 on Monday, hitting $67.01. The company's stock had a trading volume of 6,272,311 shares, compared to its average volume of 8,776,524. The firm has a market cap of $59.40 billion, a P/E ratio of 17.12 and a beta of 1.64. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $63.39 and a 200-day moving average price of $61.16. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.82 earnings per share for the current year.
Occidental Petroleum Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.31%. Occidental Petroleum's dividend payout ratio is presently 22.51%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. Stephens restated an "overweight" rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Scotiabank upgraded shares of Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Mizuho boosted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $71.94.
View Our Latest Report on Occidental Petroleum
About Occidental Petroleum
(
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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