Nuveen Asset Management LLC Sells 122,637 Shares of Occidental Petroleum Co. (NYSE:OXY)

Nuveen Asset Management LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 8.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,389,353 shares of the oil and gas producer’s stock after selling 122,637 shares during the quarter. Nuveen Asset Management LLC’s holdings in Occidental Petroleum were worth $68,648,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $40,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $42,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.8%

NYSE:OXY opened at $43.02 on Friday. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market cap of $42.34 billion, a price-to-earnings ratio of 17.63 and a beta of 0.81. The stock has a 50-day moving average price of $42.69 and a two-hundred day moving average price of $46.98.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Occidental Petroleum’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. Occidental Petroleum’s dividend payout ratio is currently 39.02%.

Analysts Set New Price Targets

OXY has been the subject of several research reports. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. TD Cowen cut Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Susquehanna decreased their price objective on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. UBS Group decreased their price objective on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, Roth Capital set a $54.00 price objective on Occidental Petroleum in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.48.

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.