MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.17 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,219 shares of the oil and gas producer’s stock after selling 1,580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Occidental Petroleum were worth $3,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the 4th quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $27,000. Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $40,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $42,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Citigroup boosted their price target on Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company lowered their price target on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Raymond James cut Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $53.14.

Occidental Petroleum Price Performance

Shares of OXY opened at $42.32 on Tuesday. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market capitalization of $41.65 billion, a price-to-earnings ratio of 17.34 and a beta of 0.81. The business has a 50-day moving average of $42.61 and a 200-day moving average of $46.90.

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

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.27%. Occidental Petroleum’s payout ratio is currently 39.02%.

Occidental Petroleum 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.