PGGM Investments Sells 2,246 Shares of Occidental Petroleum Co. (NYSE:OXY)

PGGM Investments reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 34.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,351 shares of the oil and gas producer’s stock after selling 2,246 shares during the period. PGGM Investments’ holdings in Occidental Petroleum were worth $260,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at $28,000. Grove Bank & Trust lifted its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $68.23 on Tuesday. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The business has a fifty day moving average price of $64.42 and a 200-day moving average price of $61.37. The company has a market capitalization of $60.48 billion, a PE ratio of 17.45 and a beta of 1.64. 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 announced its quarterly earnings data 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. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business earned $1.61 EPS. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OXY shares. Stephens reaffirmed an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Mizuho raised their target price on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Truist Financial increased their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Susquehanna lifted their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.94.

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.