Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Fosun International Ltd

Fosun International Ltd cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 18.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,850 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Occidental Petroleum accounts for about 0.1% of Fosun International Ltd’s holdings, making the stock its 29th biggest position. Fosun International Ltd’s holdings in Occidental Petroleum were worth $528,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum in the 3rd quarter valued at $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum in the 3rd quarter valued at $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $28,000. Grove Bank & Trust grew its stake in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $34,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $0.74 on Thursday, hitting $64.42. The company had a trading volume of 1,406,122 shares, compared to its average volume of 8,393,442. The business has a 50-day simple moving average of $64.98 and a 200-day simple moving average of $61.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The company has a market cap of $57.11 billion, a PE ratio of 16.29 and a beta of 1.64. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Research analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have weighed in on OXY shares. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Wells Fargo & Company upped their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Truist Financial increased their price objective on shares of 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 research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective on the stock. Finally, Raymond James dropped their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.00.

Occidental Petroleum 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.