BlackRock Inc. Lowers Stake in Occidental Petroleum Co. (OXY)

BlackRock Inc. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,479,863 shares of the oil and gas producer’s stock after selling 5,257,391 shares during the period. BlackRock Inc. owned approximately 0.07% of Occidental Petroleum worth $3,718,346,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OXY. Epoch Investment Partners Inc. increased its position in shares of Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after acquiring an additional 1,461,761 shares in the last quarter. Schroder Investment Management Group grew its position in Occidental Petroleum by 47.9% in the fourth quarter. Schroder Investment Management Group now owns 2,460,021 shares of the oil and gas producer’s stock valued at $181,204,000 after purchasing an additional 797,122 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Occidental Petroleum by 12.3% in the third quarter. Dimensional Fund Advisors LP now owns 4,273,139 shares of the oil and gas producer’s stock valued at $274,401,000 after purchasing an additional 466,933 shares in the last quarter. Janus Henderson Group PLC grew its position in Occidental Petroleum by 82.6% in the third quarter. Janus Henderson Group PLC now owns 886,988 shares of the oil and gas producer’s stock valued at $56,951,000 after purchasing an additional 401,102 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Occidental Petroleum by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock valued at $1,021,169,000 after purchasing an additional 345,382 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on OXY shares. Scotiabank reaffirmed a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Mizuho set a $79.00 target price on shares of Occidental Petroleum and gave the company a “hold” rating in a research report on Tuesday, January 16th. Credit Suisse Group started coverage on shares of Occidental Petroleum in a research report on Monday, December 11th. They issued a “neutral” rating and a $62.00 target price for the company. Cowen set a $85.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 target price for the company in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $70.60.

Occidental Petroleum Co. (OXY) opened at $68.16 on Monday. Occidental Petroleum Co. has a 12-month low of $57.20 and a 12-month high of $78.09. The company has a market cap of $52,160.00, a PE ratio of 96.00, a PEG ratio of 4.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the business earned ($0.13) EPS. sell-side analysts expect that Occidental Petroleum Co. will post 2.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 433.80%.

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Occidental Petroleum Profile

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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