Pinnacle Associates Ltd. lessened its position in Occidental Petroleum Corporation (NYSE:OXY) by 23.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,434 shares of the oil and gas producer’s stock after selling 6,112 shares during the period. Pinnacle Associates Ltd.’s holdings in Occidental Petroleum were worth $1,248,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of OXY. Barometer Capital Management Inc. bought a new position in Occidental Petroleum in the third quarter valued at $12,213,000. BP PLC bought a new position in Occidental Petroleum in the second quarter valued at $5,210,000. Federated Investors Inc. PA grew its position in Occidental Petroleum by 18.0% in the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after purchasing an additional 1,152,152 shares in the last quarter. BB&T Securities LLC grew its position in Occidental Petroleum by 71.1% in the second quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock valued at $27,097,000 after purchasing an additional 188,009 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Occidental Petroleum by 72.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock valued at $50,831,000 after purchasing an additional 356,351 shares in the last quarter. 80.34% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on OXY shares. Cowen reaffirmed a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum in a research report on Thursday, September 28th. Bank of America increased their price target on shares of Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Morgan Stanley increased their price target on shares of Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Jefferies Group raised their target price on shares of Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $67.27.

Shares of Occidental Petroleum Corporation (NYSE OXY) traded down $0.26 during trading on Monday, hitting $70.24. 4,972,500 shares of the stock traded hands, compared to its average volume of 4,523,272. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. Occidental Petroleum Corporation has a 1 year low of $57.20 and a 1 year high of $73.51. The company has a market capitalization of $53,750.83, a PE ratio of 200.69, a price-to-earnings-growth ratio of 14.25 and a beta of 0.65.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.38%. Occidental Petroleum’s dividend payout ratio is presently 440.00%.

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Occidental Petroleum Company 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.

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

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