NWQ Investment Management Company LLC cut its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 15.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 972,256 shares of the oil and gas producer’s stock after selling 176,579 shares during the period. NWQ Investment Management Company LLC owned 0.13% of Occidental Petroleum worth $62,429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headinvest LLC lifted its holdings in shares of Occidental Petroleum by 9.4% during the 3rd quarter. Headinvest LLC now owns 36,798 shares of the oil and gas producer’s stock valued at $2,376,000 after acquiring an additional 3,174 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Occidental Petroleum by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 109,574 shares of the oil and gas producer’s stock valued at $7,036,000 after acquiring an additional 5,349 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Occidental Petroleum by 12.8% during the 3rd quarter. King Luther Capital Management Corp now owns 1,106,553 shares of the oil and gas producer’s stock valued at $71,052,000 after acquiring an additional 125,460 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Occidental Petroleum by 231.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 297,705 shares of the oil and gas producer’s stock valued at $19,196,000 after acquiring an additional 207,900 shares in the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Occidental Petroleum by 11.9% during the 3rd quarter. Synovus Financial Corp now owns 7,925 shares of the oil and gas producer’s stock valued at $509,000 after acquiring an additional 840 shares in the last quarter. 80.34% of the stock is owned by institutional investors.

Shares of Occidental Petroleum Corporation (OXY) traded down $0.06 during mid-day trading on Wednesday, reaching $70.00. 2,723,700 shares of the company’s stock were exchanged, compared to its average volume of 4,511,970. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The firm has a market cap of $53,613.09, a price-to-earnings ratio of 200.17, a P/E/G ratio of 14.21 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business posted ($0.15) EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. research analysts predict that Occidental Petroleum Corporation will post 0.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.40%. Occidental Petroleum’s dividend payout ratio is currently 440.00%.

Several research firms recently weighed in on OXY. Cowen restated a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum in a report on Tuesday, August 22nd. Mizuho restated a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a report on Friday, November 3rd. Bank of America lifted their target price on shares of Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 13th. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Finally, Zacks Investment Research lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Occidental Petroleum currently has an average rating of “Hold” and an average price target of $67.27.

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About Occidental Petroleum

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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