Occidental Petroleum Corporation $OXY Shares Sold by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 58.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,125 shares of the oil and gas producer’s stock after selling 25,970 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Occidental Petroleum were worth $745,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management raised its position in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the last quarter. Binnacle Investments Inc acquired a new stake in shares of Occidental Petroleum in the third quarter valued at about $35,000. Garner Asset Management Corp acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $37,000. Byrne Asset Management LLC raised its position in shares of Occidental Petroleum by 96.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 600 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at about $52,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.1%

Shares of OXY opened at $59.65 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $59.33 billion, a P/E ratio of 15.03 and a beta of 0.17. The firm has a 50-day moving average price of $58.55 and a 200 day moving average price of $48.91. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Sell-side analysts forecast that Occidental Petroleum Corporation will post 5.14 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Mizuho increased their target price on shares of Occidental Petroleum from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Argus raised shares of Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. BMO Capital Markets upped their price objective on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Tuesday, April 7th. Bank of America upped their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a report on Tuesday, January 27th. Finally, Barclays upped their price objective on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.43.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.