CoreCommodity Management LLC Sells 306 Shares of Occidental Petroleum Co. (NYSE:OXY)

CoreCommodity Management LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,162 shares of the oil and gas producer’s stock after selling 306 shares during the period. Occidental Petroleum makes up 0.7% of CoreCommodity Management LLC’s investment portfolio, making the stock its 22nd largest holding. CoreCommodity Management LLC’s holdings in Occidental Petroleum were worth $3,516,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Berkshire Hathaway Inc boosted its position in shares of Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Occidental Petroleum by 48.1% in the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock valued at $203,459,000 after buying an additional 1,337,728 shares during the period. Invesco Ltd. raised its stake in Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after buying an additional 1,278,389 shares during the period. Finally, Scharf Investments LLC boosted its holdings in Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after acquiring an additional 805,525 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $39.37 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average price of $43.34 and a 200-day moving average price of $47.45. The company has a market cap of $37.00 billion, a PE ratio of 16.14 and a beta of 0.81. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $65.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.44%. Occidental Petroleum’s payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent research reports. Citigroup cut their target price on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wells Fargo & Company reduced their price objective on shares of Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Hsbc Global Res upgraded shares of Occidental Petroleum to a “hold” rating in a report on Wednesday, April 16th. Scotiabank lowered Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price on the stock. in a report on Friday, April 11th. Finally, StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $54.19.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.49% of the company’s stock.

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.