Cullinan Associates Inc. cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,500 shares of the oil and gas producer’s stock after selling 2,750 shares during the quarter. Cullinan Associates Inc.’s holdings in Occidental Petroleum were worth $4,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Griffin Asset Management Inc. boosted its holdings in shares of Occidental Petroleum by 2.3% in the third quarter. Griffin Asset Management Inc. now owns 8,915 shares of the oil and gas producer’s stock worth $733,000 after acquiring an additional 200 shares during the period. Hollencrest Capital Management boosted its holdings in shares of Occidental Petroleum by 4.2% in the fourth quarter. Hollencrest Capital Management now owns 7,812 shares of the oil and gas producer’s stock worth $480,000 after acquiring an additional 312 shares during the period. Grassi Investment Management boosted its holdings in shares of Occidental Petroleum by 3.2% in the fourth quarter. Grassi Investment Management now owns 14,640 shares of the oil and gas producer’s stock worth $899,000 after acquiring an additional 450 shares during the period. Moody National Bank Trust Division boosted its holdings in shares of Occidental Petroleum by 67.9% in the fourth quarter. Moody National Bank Trust Division now owns 1,301 shares of the oil and gas producer’s stock worth $80,000 after acquiring an additional 526 shares during the period. Finally, United Capital Management of KS Inc. boosted its holdings in shares of Occidental Petroleum by 19.7% in the fourth quarter. United Capital Management of KS Inc. now owns 3,630 shares of the oil and gas producer’s stock worth $223,000 after acquiring an additional 597 shares during the period. 81.36% of the stock is owned by hedge funds and other institutional investors.

OXY has been the subject of several research analyst reports. Piper Jaffray Companies initiated coverage on Occidental Petroleum in a research note on Friday, September 28th. They set an “overweight” rating for the company. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Wednesday, October 10th. Edward Jones raised Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Morgan Stanley set a $101.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research note on Friday, October 12th. Finally, Barclays initiated coverage on Occidental Petroleum in a research note on Monday, November 12th. They set an “overweight” rating and a $84.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Occidental Petroleum presently has an average rating of “Buy” and an average price target of $87.16.

NYSE OXY opened at $66.22 on Friday. Occidental Petroleum Co. has a twelve month low of $56.83 and a twelve month high of $87.67. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47. The stock has a market cap of $49.67 billion, a price-to-earnings ratio of 74.40, a PEG ratio of 2.37 and a beta of 0.88.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 98.9% on a year-over-year basis. On average, analysts predict that Occidental Petroleum Co. will post 5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be issued a $0.78 dividend. The ex-dividend date is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.71%. Occidental Petroleum’s dividend payout ratio is currently 350.56%.

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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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