Ingalls & Snyder LLC Sells 41,142 Shares of Occidental Petroleum Corporation $OXY

Ingalls & Snyder LLC decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 22.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 141,320 shares of the oil and gas producer’s stock after selling 41,142 shares during the period. Ingalls & Snyder LLC’s holdings in Occidental Petroleum were worth $5,937,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC acquired a new position in Occidental Petroleum during the 1st quarter worth approximately $99,853,000. Dimensional Fund Advisors LP increased its position in Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after purchasing an additional 710,220 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Occidental Petroleum by 926.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock valued at $38,381,000 after acquiring an additional 701,846 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Occidental Petroleum in the 2nd quarter valued at approximately $28,584,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Saturday. Melius Research initiated coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Evercore ISI cut their price target on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.26.

Read Our Latest Research Report on OXY

Occidental Petroleum Stock Performance

NYSE OXY opened at $42.60 on Friday. The company’s 50 day moving average is $45.21 and its 200-day moving average is $43.49. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The firm has a market cap of $41.94 billion, a P/E ratio of 25.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is currently 56.80%.

Occidental Petroleum 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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