DekaBank Deutsche Girozentrale Sells 40,240 Shares of Occidental Petroleum Co. (NYSE:OXY)

DekaBank Deutsche Girozentrale lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,512 shares of the oil and gas producer’s stock after selling 40,240 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Occidental Petroleum were worth $6,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Occidental Petroleum by 24.1% during the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after acquiring an additional 2,334,651 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Occidental Petroleum by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after buying an additional 118,928 shares in the last quarter. Invesco Ltd. boosted its stake in Occidental Petroleum by 2.8% during the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after buying an additional 125,927 shares during the period. Finally, Moneta Group Investment Advisors LLC purchased a new position in Occidental Petroleum during the fourth quarter worth about $267,173,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the topic of several recent analyst reports. Barclays initiated coverage on Occidental Petroleum in a report on Wednesday. They issued an “equal weight” rating and a $73.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Mizuho upped their target price on shares of Occidental Petroleum from $63.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Finally, Truist Financial raised their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.47.

Occidental Petroleum Trading Up 0.6 %

NYSE:OXY opened at $68.93 on Thursday. The firm has a market capitalization of $61.10 billion, a P/E ratio of 17.63 and a beta of 1.64. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $61.99 and a 200 day moving average of $60.98. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $69.58.

Occidental Petroleum (NYSE:OXY) last issued 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 during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Co. will post 3.72 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be given a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

About Occidental Petroleum

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.