Occidental Petroleum Co. (OXY) Stake Decreased by Suntrust Banks Inc.

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.

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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