Pictet Asset Management Holding SA Sells 13,945 Shares of Occidental Petroleum Corporation $OXY

Pictet Asset Management Holding SA lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 244,059 shares of the oil and gas producer’s stock after selling 13,945 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Occidental Petroleum were worth $15,864,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OXY. Dimensional Fund Advisors LP lifted its position in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Occidental Petroleum by 54.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after purchasing an additional 1,393,638 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after purchasing an additional 1,361,541 shares in the last quarter. Invesco Ltd. increased its stake in shares of Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after purchasing an additional 1,071,948 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Occidental Petroleum by 134.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after buying an additional 1,040,941 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.9%

OXY opened at $48.84 on Friday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a fifty day moving average of $55.82 and a 200-day moving average of $52.06. The stock has a market cap of $48.58 billion, a PE ratio of 12.30 and a beta of 0.15. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 5.99 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s payout ratio is presently 26.20%.

Insider Activity

In related news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OXY. The Goldman Sachs Group decreased their target price on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Roth Mkm raised their price target on shares of Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Weiss Ratings cut shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Wolfe Research increased their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, BMO Capital Markets boosted their target price on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Nine analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.30.

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.