Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 31.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,446 shares of the oil and gas producer’s stock after selling 669 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Occidental Petroleum were worth $86,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OXY. Bank of New York Mellon Corp increased its stake in shares of Occidental Petroleum by 24.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after purchasing an additional 2,334,651 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after purchasing an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Occidental Petroleum by 22.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after purchasing an additional 1,088,052 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its stake in shares of Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after purchasing an additional 797,894 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $29,665,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of research analyst reports. Mizuho increased their target price on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Susquehanna increased their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday. Finally, Raymond James reduced their target price on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Nine equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Price Performance

OXY opened at $67.88 on Friday. The company’s 50-day moving average price is $64.12 and its 200 day moving average price is $61.34. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The firm has a market cap of $60.17 billion, a price-to-earnings ratio of 17.36 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.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The company 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%. Occidental Petroleum’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.61 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.