Aviance Capital Partners LLC Lowers Stock Holdings in Occidental Petroleum Corporation (NYSE:OXY)
Aviance Capital Partners LLC cut its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 42.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,003 shares of the oil and gas producer’s stock after selling 9,735 shares during the quarter. Aviance Capital Partners LLC’s holdings in Occidental Petroleum were worth $642,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Benchmark Investment Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $642,000. Vanguard Group Inc. raised its holdings in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Occidental Petroleum by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock worth $209,349,000 after purchasing an additional 229,210 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after purchasing an additional 140,528 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on OXY shares. Susquehanna cut their price target on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Barclays lifted their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Citigroup lifted their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Finally, Piper Sandler lowered their price objective on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.38.
View Our Latest Research Report on OXY
Occidental Petroleum Trading Down 0.1%
Shares of NYSE:OXY opened at $43.87 on Friday. The company has a market cap of $43.17 billion, a P/E ratio of 17.83 and a beta of 0.84. The stock’s 50-day moving average is $42.54 and its 200-day moving average is $45.36. Occidental Petroleum Corporation has a 52-week low of $34.79 and a 52-week high of $64.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.
Occidental Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.02%.
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.
Further Reading
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