Point72 Europe London LLP Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Point72 Europe London LLP cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.0% in the second quarter, HoldingsChannel reports. The firm owned 342,806 shares of the oil and gas producer’s stock after selling 51,360 shares during the period. Occidental Petroleum comprises about 1.8% of Point72 Europe London LLP’s investment portfolio, making the stock its 8th largest holding. Point72 Europe London LLP’s holdings in Occidental Petroleum were worth $21,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Commerce Bank lifted its position in Occidental Petroleum by 0.9% during the fourth quarter. Commerce Bank now owns 31,159 shares of the oil and gas producer’s stock valued at $1,861,000 after acquiring an additional 271 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Occidental Petroleum by 2.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 176,454 shares of the oil and gas producer’s stock worth $10,536,000 after acquiring an additional 3,448 shares during the last quarter. United Services Automobile Association lifted its position in Occidental Petroleum by 7.4% during the 4th quarter. United Services Automobile Association now owns 19,251 shares of the oil and gas producer’s stock worth $1,149,000 after acquiring an additional 1,320 shares during the period. Pine Valley Investments Ltd Liability Co grew its stake in Occidental Petroleum by 32.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,183 shares of the oil and gas producer’s stock valued at $250,000 after purchasing an additional 1,022 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after purchasing an additional 532,847 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OXY. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. Susquehanna dropped their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Stephens reiterated an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Wolfe Research began coverage on Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.60.

Occidental Petroleum Trading Up 0.3 %

Shares of OXY stock opened at $52.40 on Wednesday. Occidental Petroleum Co. has a fifty-two week low of $49.90 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock’s fifty day moving average is $56.52 and its two-hundred day moving average is $61.14. The firm has a market capitalization of $47.45 billion, a P/E ratio of 14.32 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Occidental Petroleum Co. will post 3.57 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Insider Buying and Selling

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

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.