Federated Hermes Inc. Sells 510 Shares of Occidental Petroleum Co. (NYSE:OXY)

Federated Hermes Inc. decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,984 shares of the oil and gas producer’s stock after selling 510 shares during the quarter. Federated Hermes Inc.’s holdings in Occidental Petroleum were worth $178,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after purchasing an additional 1,922,656 shares during the last quarter. Pacer Advisors Inc. grew its stake in Occidental Petroleum by 22.2% during 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 buying an additional 1,088,052 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after buying an additional 797,894 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $29,665,000. Finally, Assenagon Asset Management S.A. grew its position in Occidental Petroleum by 1,279.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock worth $13,847,000 after acquiring an additional 215,091 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $64.39 on Monday. The firm’s 50 day simple moving average is $64.80 and its 200 day simple moving average is $61.35. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a market capitalization of $57.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.64. 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 announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OXY. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Wells Fargo & Company increased their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. HSBC assumed coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 target price for the company. Mizuho increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $71.94.

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.