Russell Investments Group Ltd. Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Russell Investments Group Ltd. lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 26.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,754 shares of the oil and gas producer’s stock after selling 59,413 shares during the period. Russell Investments Group Ltd.’s holdings in Occidental Petroleum were worth $10,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 600.4% during the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after acquiring an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after purchasing an additional 1,088,052 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its position in shares of Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after purchasing an additional 797,894 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Occidental Petroleum during the 3rd quarter worth $29,665,000. Finally, Assenagon Asset Management S.A. increased its position in Occidental Petroleum by 1,279.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock valued at $13,847,000 after buying an additional 215,091 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 0.4 %

Shares of Occidental Petroleum stock opened at $64.39 on Monday. The firm has a 50-day simple moving average of $64.80 and a two-hundred day simple moving average of $61.35. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is 22.51%.

Analysts Set New Price Targets

OXY has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Barclays initiated coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target for the company. HSBC started coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective on the stock. Wells Fargo & Company lifted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.94.

About Occidental Petroleum

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, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.