Pictet Asset Management Holding SA Has $10.85 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Pictet Asset Management Holding SA reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,516 shares of the oil and gas producer's stock after selling 7,469 shares during the quarter. Pictet Asset Management Holding SA's holdings in Occidental Petroleum were worth $10,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of OXY. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $40,000. Millstone Evans Group LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at approximately $42,000. Finally, M Holdings Securities Inc. acquired a new stake in Occidental Petroleum during the 4th quarter valued at $47,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OXY shares. Stephens reissued an "overweight" rating and issued a $71.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 19th. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $81.00 to $64.00 in a report on Monday, March 10th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $59.82.

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Occidental Petroleum Stock Performance

NYSE OXY traded down $3.25 during trading hours on Friday, hitting $40.65. The company had a trading volume of 44,662,665 shares, compared to its average volume of 10,414,308. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $38.20 billion, a P/E ratio of 16.66 and a beta of 1.02. Occidental Petroleum Co. has a fifty-two week low of $39.60 and a fifty-two week high of $71.19. The business has a fifty day simple moving average of $47.88 and a 200-day simple moving average of $49.70.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Equities analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.36%. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business's stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company's stock.

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.