New York Life Investment Management LLC Reduces Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

New York Life Investment Management LLC lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,143 shares of the oil and gas producer’s stock after selling 5,607 shares during the period. New York Life Investment Management LLC’s holdings in Occidental Petroleum were worth $5,621,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in Occidental Petroleum by 600.4% during the third 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 acquiring an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. grew 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 worth $357,977,000 after buying an additional 1,088,052 shares in the last quarter. ANTIPODES PARTNERS Ltd grew 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 worth $139,749,000 after buying an additional 797,894 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $29,665,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Occidental Petroleum by 1,279.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock worth $13,847,000 after buying an additional 215,091 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.4 %

NYSE:OXY opened at $64.39 on Friday. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The firm has a 50 day moving average of $64.72 and a 200 day moving average of $61.43. 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 stock has a market capitalization of $57.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Occidental Petroleum’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. Occidental Petroleum’s payout ratio is 22.51%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Morgan Stanley boosted their price objective 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. Susquehanna boosted their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Raymond James lowered their price objective 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. Finally, Stephens reissued an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.94.

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.