Sawyer & Company Inc Sells 1,486 Shares of Occidental Petroleum Corporation $OXY

Sawyer & Company Inc reduced its stake in Occidental Petroleum Corporation (NYSE:OXY) by 21.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,310 shares of the oil and gas producer’s stock after selling 1,486 shares during the quarter. Sawyer & Company Inc’s holdings in Occidental Petroleum were worth $223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Quantinno Capital Management LP grew its holdings in shares of Occidental Petroleum by 57.8% in the 4th quarter. Quantinno Capital Management LP now owns 52,678 shares of the oil and gas producer’s stock valued at $2,603,000 after acquiring an additional 19,305 shares in the last quarter. Two Sigma Investments LP increased its position in Occidental Petroleum by 1,253.6% during the fourth quarter. Two Sigma Investments LP now owns 745,824 shares of the oil and gas producer’s stock worth $36,851,000 after buying an additional 690,724 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $1,675,000. Visionary Wealth Advisors raised its stake in Occidental Petroleum by 26.9% in the 4th quarter. Visionary Wealth Advisors now owns 25,147 shares of the oil and gas producer’s stock valued at $1,243,000 after acquiring an additional 5,328 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in Occidental Petroleum in the 4th quarter valued at $1,205,000. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on OXY. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 15th. Melius began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. Melius Research initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Scotiabank upped their target price on Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $54.70.

Occidental Petroleum Trading Up 4.9%

OXY opened at $47.72 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The company’s 50 day moving average price is $45.01 and its two-hundred day moving average price is $43.79. The firm has a market capitalization of $46.98 billion, a price-to-earnings ratio of 28.24 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. Occidental Petroleum’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. As a group, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

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.