Los Angeles Capital Management LLC Cuts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Los Angeles Capital Management LLC cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 57.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,720 shares of the oil and gas producer's stock after selling 59,145 shares during the period. Los Angeles Capital Management LLC's holdings in Occidental Petroleum were worth $2,611,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in Occidental Petroleum in the third quarter valued at $27,000. TLW Wealth Management LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at about $28,000. Grove Bank & Trust raised its holdings in Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $34,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.1 %

OXY stock traded up $0.05 during mid-day trading on Tuesday, hitting $65.07. 6,156,668 shares of the company were exchanged, compared to its average volume of 8,472,645. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $64.89 and a 200 day simple moving average of $61.34. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a market capitalization of $57.68 billion, a PE ratio of 16.66 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company's quarterly revenue was down 17.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. On average, research analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.35%. Occidental Petroleum's dividend payout ratio is presently 22.51%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent research reports. Raymond James reduced their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 24th. HSBC started coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a "hold" rating and a $65.00 price objective on the stock. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Friday, March 15th. Finally, Mizuho raised their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $71.94.

Occidental Petroleum Company 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.