Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,329 shares of the oil and gas producer’s stock after selling 581 shares during the period. Sumitomo Life Insurance Co.’s holdings in Occidental Petroleum were worth $531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BOKF NA acquired a new position in Occidental Petroleum during the third quarter worth about $3,035,000. Mackay Shields LLC raised its position in shares of Occidental Petroleum by 2.4% during the 3rd quarter. Mackay Shields LLC now owns 135,417 shares of the oil and gas producer’s stock worth $4,006,000 after purchasing an additional 3,189 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Occidental Petroleum by 1,551.4% in the 3rd quarter. Maverick Capital Ltd. now owns 68,170 shares of the oil and gas producer’s stock valued at $2,016,000 after buying an additional 64,042 shares in the last quarter. Estate Counselors LLC grew its holdings in Occidental Petroleum by 59.8% during the 3rd quarter. Estate Counselors LLC now owns 62,100 shares of the oil and gas producer’s stock valued at $1,836,000 after buying an additional 23,250 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in Occidental Petroleum by 23.0% during the fourth quarter. Kestra Advisory Services LLC now owns 47,838 shares of the oil and gas producer’s stock worth $1,387,000 after buying an additional 8,937 shares in the last quarter. 72.01% of the stock is owned by hedge funds and other institutional investors.

OXY has been the subject of a number of recent research reports. Barclays lifted their price objective on Occidental Petroleum from $44.00 to $69.00 in a research report on Friday, March 18th. Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research note on Tuesday, February 8th. Stifel Nicolaus began coverage on shares of Occidental Petroleum in a research note on Tuesday, April 5th. They issued a “buy” rating and a $84.00 target price for the company. Raymond James lifted their price objective on Occidental Petroleum from $60.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Wednesday, March 30th. Finally, TheStreet upgraded Occidental Petroleum from a “c” rating to a “b-” rating in a research note on Thursday, February 24th. Three analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $54.33.

NYSE:OXY opened at $61.37 on Tuesday. Occidental Petroleum Co. has a 12 month low of $21.62 and a 12 month high of $63.24. The business’s 50-day moving average is $52.14 and its two-hundred day moving average is $39.54. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.23 and a quick ratio of 1.00. The firm has a market capitalization of $57.50 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 0.22 and a beta of 2.06.

Occidental Petroleum (NYSE:OXYGet Rating) last released its quarterly earnings results on Thursday, February 24th. The oil and gas producer reported $1.48 EPS for the quarter, topping the consensus estimate of $1.08 by $0.40. The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.39 billion. Occidental Petroleum had a return on equity of 31.13% and a net margin of 8.82%. Occidental Petroleum’s revenue for the quarter was up 136.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.78) EPS. Equities analysts anticipate that Occidental Petroleum Co. will post 8.08 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 10th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, March 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 33.33%.

In other Occidental Petroleum news, Director Avedick Baruyr Poladian sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $57.23, for a total transaction of $1,144,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vicki A. Hollub bought 14,191 shares of the business’s stock in a transaction on Monday, March 28th. The stock was acquired at an average cost of $56.24 per share, for a total transaction of $798,101.84. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Profile (Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

Featured Stories

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

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.