Occidental Petroleum Corporation (NYSE:OXY) Stock Holdings Lessened by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 0.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 244,152 shares of the oil and gas producer’s stock after selling 1,877 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Occidental Petroleum were worth $12,051,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Occidental Petroleum in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $27,000. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum in the 4th quarter valued at about $32,000. Finally, Grove Bank & Trust lifted its position in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 407 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $45.68 on Monday. The firm’s 50 day simple moving average is $41.78 and its 200-day simple moving average is $45.65. The company has a market cap of $44.96 billion, a P/E ratio of 18.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded shares of Occidental Petroleum to a “hold” rating in a research report on Wednesday, April 16th. TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price objective for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Susquehanna dropped their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays boosted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.14.

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, 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.