Janney Montgomery Scott LLC Sells 13,515 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Janney Montgomery Scott LLC trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 195,038 shares of the oil and gas producer’s stock after selling 13,515 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Occidental Petroleum were worth $9,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OXY. Altshuler Shaham Ltd bought a new stake in Occidental Petroleum during the 4th quarter valued at $26,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at $27,000. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum during the 4th quarter valued at $32,000. Finally, American National Bank & Trust bought a new stake in Occidental Petroleum during the 1st quarter valued at $39,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $45.68 on Friday. The stock has a market cap of $44.96 billion, a price-to-earnings ratio of 18.57 and a beta of 0.87. The firm’s 50-day moving average is $41.78 and its 200 day moving average is $45.69. Occidental Petroleum Corporation has a 1 year low of $34.79 and a 1 year high of $64.76. 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 (NYSE:OXY — Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. Occidental Petroleum’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Finally, Raymond James Financial downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $53.14.

Check Out Our Latest Stock Analysis on Occidental Petroleum

About Occidental Petroleum

(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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