Suntrust Banks Inc. cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 649,928 shares of the oil and gas producer’s stock after selling 65,815 shares during the quarter. Suntrust Banks Inc. owned about 0.08% of Occidental Petroleum worth $47,872,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of OXY. Barometer Capital Management Inc. acquired a new stake in Occidental Petroleum in the 3rd quarter valued at about $12,213,000. California Public Employees Retirement System grew its stake in Occidental Petroleum by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after acquiring an additional 64,533 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $355,000. Swiss National Bank grew its stake in Occidental Petroleum by 0.9% in the 3rd quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after acquiring an additional 25,100 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Occidental Petroleum in the 3rd quarter valued at about $3,792,000. 79.86% of the stock is currently owned by institutional investors and hedge funds.
OXY has been the topic of a number of research reports. Scotiabank reissued a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Mizuho set a $79.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group assumed coverage on shares of Occidental Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $62.00 price objective on the stock. Cowen set a $85.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $70.60.
Shares of Occidental Petroleum Co. (NYSE:OXY) traded down $0.20 during mid-day trading on Tuesday, hitting $67.96. 432,392 shares of the stock traded hands, compared to its average volume of 4,132,097. The stock has a market cap of $52,160.00, a price-to-earnings ratio of 95.56, a P/E/G ratio of 4.02 and a beta of 0.53. Occidental Petroleum Co. has a 1-year low of $57.20 and a 1-year high of $78.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same period in the prior year, the firm posted ($0.13) EPS. equities analysts expect that Occidental Petroleum Co. will post 2.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, March 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.53%. Occidental Petroleum’s payout ratio is currently 433.80%.
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About Occidental Petroleum
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.
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