Kingsview Wealth Management LLC Cuts Stake in Occidental Petroleum Corporation $OXY

Kingsview Wealth Management LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,233 shares of the oil and gas producer’s stock after selling 1,891 shares during the period. Kingsview Wealth Management LLC’s holdings in Occidental Petroleum were worth $472,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares during the period. Geode Capital Management LLC raised its position in Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after purchasing an additional 3,267,269 shares in the last quarter. Nuveen LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $99,853,000. Dimensional Fund Advisors LP grew its position in shares of Occidental Petroleum by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after buying an additional 710,220 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Occidental Petroleum by 926.9% during the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after buying an additional 701,846 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Scotiabank lifted their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Occidental Petroleum from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Melius Research started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price for the company. Mizuho raised their price target on Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Finally, HSBC lowered their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.24.

Occidental Petroleum Trading Up 0.6%

NYSE OXY opened at $41.47 on Friday. The firm’s fifty day moving average price is $43.34 and its 200 day moving average price is $43.75. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a market capitalization of $40.86 billion, a price-to-earnings ratio of 24.54 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is 70.59%.

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.