Transcend Capital Advisors LLC Cuts Stake in Occidental Petroleum Co. (NYSE:OXY)

Transcend Capital Advisors LLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,145 shares of the oil and gas producer’s stock after selling 4,643 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Occidental Petroleum were worth $1,024,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of OXY. Bank of New York Mellon Corp raised its position in Occidental Petroleum by 24.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock worth $779,983,000 after buying an additional 2,334,651 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after purchasing an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Occidental Petroleum by 22.2% in 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 in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings 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 valued at $139,749,000 after purchasing an additional 797,894 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $29,665,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $67.78 on Monday. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The stock has a market capitalization of $60.08 billion, a P/E ratio of 17.34 and a beta of 1.64. The firm’s 50-day moving average is $64.27 and its two-hundred day moving average is $61.33. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the company earned $1.61 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts predict that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.30%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. Mizuho increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Susquehanna increased their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Stephens reissued an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Finally, Barclays initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Company Profile

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.