Healthcare of Ontario Pension Plan Trust Fund Sells 612,241 Shares of Occidental Petroleum Corporation $OXY

Healthcare of Ontario Pension Plan Trust Fund cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 57.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 446,190 shares of the oil and gas producer’s stock after selling 612,241 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Occidental Petroleum were worth $29,002,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OXY. Morningstar Investment Management LLC increased its holdings in Occidental Petroleum by 6.3% during the 1st quarter. Morningstar Investment Management LLC now owns 50,926 shares of the oil and gas producer’s stock valued at $3,310,000 after purchasing an additional 2,999 shares in the last quarter. Compound Planning Inc. boosted its stake in Occidental Petroleum by 7.7% in the first quarter. Compound Planning Inc. now owns 5,743 shares of the oil and gas producer’s stock worth $373,000 after purchasing an additional 412 shares in the last quarter. Modern Wealth Management LLC grew its holdings in shares of Occidental Petroleum by 2.3% during the first quarter. Modern Wealth Management LLC now owns 28,374 shares of the oil and gas producer’s stock worth $1,766,000 after purchasing an additional 651 shares during the last quarter. Volterra Technologies LP increased its stake in shares of Occidental Petroleum by 225.8% in the first quarter. Volterra Technologies LP now owns 54,045 shares of the oil and gas producer’s stock valued at $3,513,000 after buying an additional 37,459 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Occidental Petroleum in the first quarter valued at about $47,039,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.0%

Shares of NYSE OXY opened at $57.32 on Monday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The firm’s 50-day moving average is $54.81 and its 200-day moving average is $53.59. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $57.02 billion, a PE ratio of 14.44 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum’s payout ratio is presently 26.20%.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OXY shares. UBS Group decreased their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Susquehanna increased their price target on shares of Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. Morgan Stanley lowered their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 26th. Finally, Raymond James Financial boosted their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $64.17.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.