Occidental Petroleum Corporation $OXY Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 135,607 shares of the oil and gas producer’s stock after selling 11,907 shares during the period. Janney Montgomery Scott LLC’s holdings in Occidental Petroleum were worth $8,815,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Woodline Partners LP boosted its holdings in shares of Occidental Petroleum by 40.7% during the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after purchasing an additional 16,506 shares during the last quarter. Marshall Wace LLP acquired a new position in Occidental Petroleum in the second quarter valued at $4,584,000. Federated Hermes Inc. increased its stake in Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 7,285 shares during the period. Finally, AXA S.A. boosted its stake in Occidental Petroleum by 24.3% in the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after buying an additional 26,741 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $48.84 on Friday. The business has a 50-day moving average of $55.65 and a two-hundred day moving average of $52.04. The firm has a market capitalization of $48.58 billion, a PE ratio of 12.30 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company posted $0.14 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. As a group, research analysts forecast that Occidental Petroleum Corporation will post 5.99 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s payout ratio is 26.20%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OXY has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday. HSBC increased their price objective on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Morgan Stanley lowered their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 26th. Weiss Ratings lowered shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $63.30.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.