Natixis Advisors LLC Reduces Stock Position in Occidental Petroleum Corporation $OXY

Natixis Advisors LLC lowered its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 30.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 145,304 shares of the oil and gas producer’s stock after selling 63,357 shares during the quarter. Natixis Advisors LLC’s holdings in Occidental Petroleum were worth $5,975,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after purchasing an additional 699,137 shares during the period. Geode Capital Management LLC grew its stake in Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after acquiring an additional 167,518 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Occidental Petroleum by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock worth $412,045,000 after acquiring an additional 900,677 shares in the last quarter. Invesco Ltd. raised its stake in shares of Occidental Petroleum by 0.4% during the third quarter. Invesco Ltd. now owns 5,658,899 shares of the oil and gas producer’s stock valued at $267,383,000 after acquiring an additional 24,755 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 9.9% during the third quarter. American Century Companies Inc. now owns 3,905,711 shares of the oil and gas producer’s stock valued at $184,545,000 after acquiring an additional 353,056 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY opened at $57.56 on Tuesday. The firm has a market capitalization of $57.26 billion, a PE ratio of 14.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The business’s 50-day moving average is $58.54 and its two-hundred day moving average is $50.72. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the business earned $0.14 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. Research analysts anticipate that Occidental Petroleum Corporation will post 5.96 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s payout ratio is currently 26.20%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Raymond James Financial increased their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Argus upgraded Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. TD Cowen raised their price target on Occidental Petroleum from $48.00 to $54.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. HSBC raised their price target on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Susquehanna increased their target price on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $63.74.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.