Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Natixis Advisors L.P.

Natixis Advisors L.P. trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,789 shares of the oil and gas producer’s stock after selling 5,946 shares during the quarter. Natixis Advisors L.P.’s holdings in Occidental Petroleum were worth $10,197,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in shares of Occidental Petroleum by 9.2% in the 3rd quarter. Mackenzie Financial Corp now owns 31,651 shares of the oil and gas producer’s stock valued at $1,977,000 after buying an additional 2,668 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Occidental Petroleum by 4.2% during the third quarter. Chicago Partners Investment Group LLC now owns 4,904 shares of the oil and gas producer’s stock worth $308,000 after purchasing an additional 197 shares during the last quarter. Conning Inc. increased its position in shares of Occidental Petroleum by 3.6% during the third quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 180 shares in the last quarter. Klingenstein Fields & Co. LP purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $215,000. Finally, Arbor Capital Management Inc. ADV boosted its position in shares of Occidental Petroleum by 0.9% in the 3rd quarter. Arbor Capital Management Inc. ADV now owns 31,048 shares of the oil and gas producer’s stock valued at $2,037,000 after purchasing an additional 267 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 2.1 %

NYSE:OXY opened at $63.69 on Thursday. The stock has a fifty day simple moving average of $64.98 and a 200 day simple moving average of $61.34. The firm has a market capitalization of $56.46 billion, a price-to-earnings ratio of 16.29 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. 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 Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Wall Street Analyst Weigh In

Several brokerages recently commented on OXY. Mizuho raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. HSBC assumed coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. Finally, Susquehanna lifted their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Nine investment 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, Occidental Petroleum has an average rating of “Hold” and an average target price of $72.00.

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.