Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 23.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 619,459 shares of the oil and gas producer’s stock after selling 188,899 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Occidental Petroleum worth $38,070,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. WESTERN FINANCIAL Corp grew its holdings in shares of Occidental Petroleum by 7.3% during the third quarter. WESTERN FINANCIAL Corp now owns 11,393 shares of the oil and gas producer’s stock valued at $700,000 after buying an additional 779 shares in the last quarter. Alpha Cubed Investments LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $330,000. Ieq Capital LLC increased its holdings in Occidental Petroleum by 102.2% in the third quarter. Ieq Capital LLC now owns 31,636 shares of the oil and gas producer’s stock worth $1,944,000 after buying an additional 15,992 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Occidental Petroleum by 252.5% in the third quarter. First Republic Investment Management Inc. now owns 519,649 shares of the oil and gas producer’s stock valued at $31,932,000 after acquiring an additional 372,223 shares during the last quarter. Finally, Selway Asset Management bought a new stake in Occidental Petroleum in the third quarter worth approximately $37,000. 78.45% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 3.1 %

Shares of NYSE OXY opened at $64.43 on Wednesday. Occidental Petroleum Co. has a 1-year low of $33.22 and a 1-year high of $77.13. The company has a 50-day moving average of $65.48 and a two-hundred day moving average of $66.07. The company has a market cap of $58.56 billion, a PE ratio of 5.36, a P/E/G ratio of 0.40 and a beta of 1.78. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The oil and gas producer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.04). The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.35 billion. Occidental Petroleum had a return on equity of 59.90% and a net margin of 35.11%. As a group, equities analysts expect that Occidental Petroleum Co. will post 9.64 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Monday, December 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 4.33%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho reissued a “buy” rating and set a $82.00 target price (up from $81.00) on shares of Occidental Petroleum in a research report on Tuesday, January 10th. Morgan Stanley lowered their price target on Occidental Petroleum from $74.00 to $71.00 and set an “equal weight” rating on the stock in a report on Tuesday. Piper Sandler dropped their price objective on Occidental Petroleum from $76.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, December 19th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $74.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Finally, Bank of America upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.76.

About Occidental Petroleum

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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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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

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