Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 50.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 107,231 shares of the oil and gas producer’s stock after selling 109,656 shares during the quarter. Intech Investment Management LLC’s holdings in Occidental Petroleum were worth $6,403,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Pacer Advisors Inc. grew its stake in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after buying an additional 1,088,052 shares in the last quarter. Invesco Ltd. grew its stake in Occidental Petroleum by 2.8% during the 3rd quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after purchasing an additional 125,927 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Occidental Petroleum by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after purchasing an additional 82,360 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in Occidental Petroleum by 51.7% during 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, American Century Companies Inc. grew its stake in Occidental Petroleum by 600.4% during 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. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock traded down $0.01 during mid-day trading on Friday, hitting $61.95. 4,616,691 shares of the stock traded hands, compared to its average volume of 6,259,468. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 16.93 and a beta of 1.64. The company’s 50-day simple moving average is $65.47 and its 200-day simple moving average is $61.43. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.89 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent analyst reports. Mizuho raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Truist Financial lowered Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. Barclays began coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Occidental Petroleum from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $70.94.

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.