Acadian Asset Management LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 61.9% in the third quarter, Holdings Channel reports. The firm owned 16,736 shares of the oil and gas producer’s stock after selling 27,164 shares during the period. Acadian Asset Management LLC’s holdings in Occidental Petroleum were worth $1,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Perpetual Ltd increased its holdings in Occidental Petroleum by 263.0% in the third quarter. Perpetual Ltd now owns 16,700 shares of the oil and gas producer’s stock valued at $1,372,000 after purchasing an additional 12,100 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Occidental Petroleum by 28.2% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 158,458 shares of the oil and gas producer’s stock worth $13,021,000 after acquiring an additional 34,903 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Occidental Petroleum by 1.8% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 92,306 shares of the oil and gas producer’s stock worth $7,585,000 after acquiring an additional 1,668 shares in the last quarter. Aviance Capital Management LLC increased its holdings in shares of Occidental Petroleum by 153,180.0% in the third quarter. Aviance Capital Management LLC now owns 61,312 shares of the oil and gas producer’s stock worth $5,038,000 after acquiring an additional 61,272 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Occidental Petroleum by 1.0% in the third quarter. Arizona State Retirement System now owns 387,419 shares of the oil and gas producer’s stock worth $31,834,000 after acquiring an additional 3,715 shares in the last quarter. Institutional investors and hedge funds own 82.00% of the company’s stock.

OXY stock opened at $70.78 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. The stock has a market cap of $55.53 billion, a PE ratio of 79.53, a PEG ratio of 2.20 and a beta of 0.80. Occidental Petroleum Co. has a fifty-two week low of $62.47 and a fifty-two week high of $87.67.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.26. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. Occidental Petroleum’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 5.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.41%. Occidental Petroleum’s dividend payout ratio is currently 350.56%.

Several brokerages have issued reports on OXY. Mizuho restated a “buy” rating on shares of Occidental Petroleum in a report on Tuesday, July 24th. Piper Jaffray Companies began coverage on Occidental Petroleum in a report on Friday, September 28th. They issued an “overweight” rating for the company. ValuEngine downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Wednesday, October 10th. Finally, National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum has an average rating of “Buy” and a consensus price target of $86.18.

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About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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