Occidental Petroleum Corporation $OXY Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 55.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 44,426 shares of the oil and gas producer’s stock after selling 55,109 shares during the period. Machina Capital S.A.S.’s holdings in Occidental Petroleum were worth $2,458,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Axiom Investment Management LLC acquired a new position in Occidental Petroleum in the first quarter worth about $25,000. GKV Capital Management Co. Inc. bought a new stake in Occidental Petroleum in the first quarter valued at about $26,000. William Mack & Associates Inc. bought a new stake in Occidental Petroleum in the third quarter valued at about $27,000. Hara Capital LLC acquired a new stake in Occidental Petroleum during the second quarter valued at approximately $25,000. Finally, Ballast Advisors LLC acquired a new stake in Occidental Petroleum during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $57.28 on Thursday. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 1.13. The business’s fifty day moving average price is $59.84 and its two-hundred day moving average price is $56.48. The firm has a market capitalization of $57.28 billion, a PE ratio of 7.72, a P/E/G ratio of 0.66 and a beta of 0.16.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.45. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.82 billion. Occidental Petroleum had a net margin of 32.17% and a return on equity of 18.55%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, research analysts expect that Occidental Petroleum Corporation will post 6.83 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 10th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 10th. This represents a $1.12 annualized dividend and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

Analysts Set New Price Targets

OXY has been the topic of a number of research analyst reports. Citigroup reduced their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Seaport Research Partners initiated coverage on Occidental Petroleum in a report on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price target for the company. Wall Street Zen upgraded Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. UBS Group upped their price target on Occidental Petroleum from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, October 14th. Finally, Roth Capital upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Friday, October 16th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.62.

Key Stories Impacting Occidental Petroleum

Here are a few of the latest stories about OXY:

• Positive Sentiment: Occidental reported strong third-quarter cash generation, beat production guidance and repaid $1.8 billion of debt during the quarter. Reports also cited $2.8 billion in free cash flow. Occidental Q3 earnings call highlights
• Positive Sentiment: Wells Fargo maintained an “overweight” rating, despite lowering its price target to $76 from $82—still implying substantial upside relative to the cited share price. Wells Fargo analyst recommendations
• Neutral Sentiment: Management’s outlook puts capital spending and potential buybacks in focus. The cash-flow gains could help shareholder returns, but their impact depends on execution and how cash is allocated. Occidental Q3 earnings call centers on debt cuts and cash flow

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa. Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods. The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.