Ardevora Asset Management LLP Has $5.29 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Ardevora Asset Management LLP decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 34.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,526 shares of the oil and gas producer’s stock after selling 47,017 shares during the period. Ardevora Asset Management LLP’s holdings in Occidental Petroleum were worth $5,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth about $28,000. Grove Bank & Trust raised its holdings in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OXY. Susquehanna increased their target price on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday. HSBC initiated coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Finally, Stephens restated an “overweight” rating and set 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Up 0.5 %

Occidental Petroleum stock traded up $0.31 during trading hours on Monday, hitting $66.94. The stock had a trading volume of 2,096,622 shares, compared to its average volume of 8,719,389. 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 $59.34 billion, a P/E ratio of 17.12 and a beta of 1.64. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The stock’s 50-day moving average price is $63.39 and its 200-day moving average price is $61.16.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.82 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were given a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

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, 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.