Harvest Fund Management Co. Ltd Has $86,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Harvest Fund Management Co. Ltd cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 31.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,446 shares of the oil and gas producer’s stock after selling 669 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Occidental Petroleum were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of OXY. DAVENPORT & Co LLC raised its stake in shares of Occidental Petroleum by 82.6% during the third quarter. DAVENPORT & Co LLC now owns 11,341 shares of the oil and gas producer’s stock worth $736,000 after buying an additional 5,130 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Occidental Petroleum by 11.6% during the third quarter. Avior Wealth Management LLC now owns 2,922 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 303 shares during the last quarter. CX Institutional raised its stake in shares of Occidental Petroleum by 6.9% during the third quarter. CX Institutional now owns 7,791 shares of the oil and gas producer’s stock worth $506,000 after buying an additional 506 shares during the last quarter. Occidental Asset Management LLC bought a new stake in shares of Occidental Petroleum during the third quarter worth approximately $216,000. Finally, Czech National Bank raised its stake in shares of Occidental Petroleum by 36.3% during the third quarter. Czech National Bank now owns 115,968 shares of the oil and gas producer’s stock worth $7,524,000 after buying an additional 30,898 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on OXY. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Stephens reaffirmed an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. Mizuho upped their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Susquehanna upped 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. Finally, HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target for the company. Nine 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Trading Up 0.8 %

Shares of Occidental Petroleum stock opened at $67.88 on Friday. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18. The company has a market capitalization of $60.17 billion, a price-to-earnings ratio of 17.36 and a beta of 1.64. The business has a fifty day simple moving average of $64.12 and a two-hundred 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.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Research analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were issued a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s payout ratio is currently 22.51%.

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.