Pureheart Capital Pte Ltd. Sells 475,000 Shares of Occidental Petroleum Corporation $OXY

Pureheart Capital Pte Ltd. cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 95.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the oil and gas producer’s stock after selling 475,000 shares during the period. Occidental Petroleum comprises about 0.2% of Pureheart Capital Pte Ltd.’s investment portfolio, making the stock its 9th biggest holding. Pureheart Capital Pte Ltd.’s holdings in Occidental Petroleum were worth $1,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OXY. Vanguard Group Inc. increased its holdings in Occidental Petroleum by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after purchasing an additional 8,273,030 shares during the last quarter. State Street Corp increased its stake in shares of Occidental Petroleum by 1.6% in the second quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after buying an additional 615,566 shares during the last quarter. Geode Capital Management LLC raised its holdings in Occidental Petroleum by 22.0% in the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after acquiring an additional 3,267,269 shares in the last quarter. H&H International Investment LLC boosted its stake in Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after acquiring an additional 249,100 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Occidental Petroleum by 1.6% during the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after acquiring an additional 110,378 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.3%

Occidental Petroleum stock opened at $41.07 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. The company has a 50-day simple moving average of $41.87 and a 200-day simple moving average of $43.76. The firm has a market capitalization of $40.46 billion, a P/E ratio of 30.20 and a beta of 0.39.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the firm posted $1.00 EPS. Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is 70.59%.

Analysts Set New Price Targets

Several analysts have issued reports on OXY shares. Evercore ISI cut their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research note on Friday, October 3rd. Mizuho upped their price target on Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Melius Research started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. Finally, HSBC reduced their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $49.95.

Occidental Petroleum Company 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.