TIAA CREF Investment Management LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,738,412 shares of the oil and gas producer’s stock after selling 293,857 shares during the period. TIAA CREF Investment Management LLC owned 0.49% of Occidental Petroleum worth $275,371,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Goodman Financial Corp acquired a new stake in Occidental Petroleum during the fourth quarter worth about $116,000. Trustcore Financial Services LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $153,000. Field & Main Bank acquired a new stake in Occidental Petroleum during the fourth quarter worth about $166,000. Optimum Investment Advisors acquired a new stake in Occidental Petroleum during the third quarter worth about $200,000. Finally, Cetera Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 83.00% of the company’s stock.
Shares of Occidental Petroleum Co. (NYSE:OXY) opened at $64.20 on Wednesday. Occidental Petroleum Co. has a 12-month low of $57.20 and a 12-month high of $78.09. The firm has a market cap of $48,885.35, a PE ratio of 37.54, a price-to-earnings-growth ratio of 3.78 and a beta of 0.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s payout ratio is 180.12%.
Several research firms recently issued reports on OXY. Morgan Stanley raised their price objective on shares of Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Macquarie began coverage on shares of Occidental Petroleum in a research report on Wednesday, January 17th. They set a “neutral” rating for the company. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a research report on Monday, January 22nd. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Mizuho set a $79.00 price objective on shares of Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $71.56.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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