American Century Companies Inc. Cuts Stake in Occidental Petroleum Co. (OXY)

American Century Companies Inc. decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 56.4% in the third quarter, HoldingsChannel reports. The firm owned 1,115,598 shares of the oil and gas producer’s stock after selling 1,445,023 shares during the period. American Century Companies Inc.’s holdings in Occidental Petroleum were worth $91,669,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Standard Life Aberdeen plc boosted its stake in shares of Occidental Petroleum by 1,541.0% in the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after purchasing an additional 7,122,373 shares in the last quarter. FMR LLC boosted its stake in shares of Occidental Petroleum by 232.5% in the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after purchasing an additional 4,230,065 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Occidental Petroleum by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,735,322 shares of the oil and gas producer’s stock valued at $479,928,000 after buying an additional 490,346 shares during the last quarter. Levin Capital Strategies L.P. raised its holdings in Occidental Petroleum by 11.8% during the 3rd quarter. Levin Capital Strategies L.P. now owns 3,365,150 shares of the oil and gas producer’s stock valued at $276,514,000 after buying an additional 356,312 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new stake in Occidental Petroleum during the 2nd quarter valued at $241,052,000. 80.95% of the stock is owned by institutional investors.

Shares of NYSE OXY opened at $73.55 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.33 and a quick ratio of 1.19. Occidental Petroleum Co. has a 12 month low of $62.47 and a 12 month high of $87.67. The firm has a market capitalization of $55.66 billion, a price-to-earnings ratio of 82.64, a P/E/G ratio of 2.01 and a beta of 0.80.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the business earned $0.18 EPS. The company’s revenue for the quarter was up 98.9% on a year-over-year basis. Equities research analysts expect that Occidental Petroleum Co. will post 5.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders 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 yield of 4.24%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.

In related news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was acquired at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the acquisition, the director now owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on OXY. Mizuho reiterated a “buy” rating on shares of Occidental Petroleum in a report on Tuesday, July 24th. Piper Jaffray Companies began coverage on shares of Occidental Petroleum in a report on Friday, September 28th. They set an “overweight” rating for the company. ValuEngine lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Wednesday, October 10th. Finally, National Alliance Securities upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $84.00.

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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 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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