PGGM Investments Sells 2,246 Shares of Occidental Petroleum Co. (NYSE:OXY)

PGGM Investments lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 34.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,351 shares of the oil and gas producer’s stock after selling 2,246 shares during the quarter. PGGM Investments’ holdings in Occidental Petroleum were worth $260,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Occidental Petroleum in the third quarter worth about $26,000. Orion Capital Management LLC acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at $28,000. Grove Bank & Trust raised its stake 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 valued at $31,000 after purchasing an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the fourth quarter worth about $34,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. Raymond James cut their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research report on Thursday, February 15th. Wells Fargo & Company increased their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Barclays initiated coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Finally, Morgan Stanley increased their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $68.23 on Tuesday. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The company’s 50 day moving average price is $64.42 and its two-hundred day moving average price is $61.37. The firm has a market cap of $60.48 billion, a PE ratio of 17.45 and a beta of 1.64. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. 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 prior year, the company earned $1.61 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.29%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 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.