Cresset Asset Management LLC Has $1.01 Million Holdings in Occidental Petroleum Corporation $OXY

Cresset Asset Management LLC cut its position in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 34.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,287 shares of the oil and gas producer’s stock after selling 10,737 shares during the quarter. Cresset Asset Management LLC’s holdings in Occidental Petroleum were worth $1,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alliance Wealth Advisors LLC UT grew its stake in shares of Occidental Petroleum by 4.4% in the first quarter. Alliance Wealth Advisors LLC UT now owns 7,795 shares of the oil and gas producer’s stock valued at $385,000 after buying an additional 331 shares in the last quarter. Tocqueville Asset Management L.P. grew its stake in shares of Occidental Petroleum by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 504,881 shares of the oil and gas producer’s stock valued at $24,921,000 after buying an additional 4,330 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Occidental Petroleum by 1.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 236,583 shares of the oil and gas producer’s stock valued at $11,678,000 after buying an additional 3,850 shares in the last quarter. Ethic Inc. grew its stake in shares of Occidental Petroleum by 5.5% in the first quarter. Ethic Inc. now owns 12,302 shares of the oil and gas producer’s stock valued at $605,000 after buying an additional 639 shares in the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Occidental Petroleum by 134.6% in the first quarter. Aberdeen Group plc now owns 700,412 shares of the oil and gas producer’s stock valued at $34,646,000 after buying an additional 401,918 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 0.6%

Shares of Occidental Petroleum stock opened at $44.5410 on Friday. The company has a market capitalization of $43.85 billion, a price-to-earnings ratio of 26.36 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $58.47. The firm’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $44.10.

Occidental Petroleum (NYSE:OXY — Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. On average, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OXY shares. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Melius Research began coverage on shares of Occidental Petroleum in a report on Wednesday. They issued a “hold” rating and a $64.00 price objective on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 price objective on shares of Occidental Petroleum in a report on Monday. Citigroup upped their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.65.

View Our Latest Analysis on Occidental Petroleum

Occidental Petroleum Company Profile

(Free Report)

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.

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