Russell Investments Group Ltd. Sells 59,413 Shares of Occidental Petroleum Co. (NYSE:OXY)

Russell Investments Group Ltd. cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 26.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,754 shares of the oil and gas producer's stock after selling 59,413 shares during the period. Russell Investments Group Ltd.'s holdings in Occidental Petroleum were worth $10,078,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer's stock worth $357,977,000 after buying an additional 1,088,052 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Occidental Petroleum by 2.8% in the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer's stock worth $302,697,000 after buying an additional 125,927 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in shares of Occidental Petroleum by 51.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer's stock worth $139,749,000 after buying an additional 797,894 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Occidental Petroleum by 600.4% in the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer's stock worth $145,520,000 after buying an additional 1,922,656 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Occidental Petroleum by 1.3% in the third quarter. HighTower Advisors LLC now owns 1,454,313 shares of the oil and gas producer's stock worth $94,458,000 after buying an additional 18,556 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on OXY shares. Truist Financial boosted their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Friday, March 15th. HSBC assumed coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a "hold" rating and a $65.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 11th. Finally, Scotiabank raised shares of Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and an average target price of $71.94.

Occidental Petroleum Price Performance

Shares of OXY traded up $0.63 during trading hours on Monday, hitting $65.02. The stock had a trading volume of 8,268,303 shares, compared to its average volume of 8,498,220. The company's fifty day moving average is $64.80 and its two-hundred day moving average is $61.35. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The stock has a market capitalization of $57.64 billion, a price-to-earnings ratio of 16.65 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. On average, analysts anticipate that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.35%. Occidental Petroleum's dividend payout ratio (DPR) is 22.51%.

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.