Occidental Petroleum Corporation $OXY Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 42.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,890 shares of the oil and gas producer’s stock after selling 23,310 shares during the period. Private Wealth Partners LLC’s holdings in Occidental Petroleum were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in OXY. GAMMA Investing LLC increased its holdings in shares of Occidental Petroleum by 28.4% during the 1st quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer’s stock worth $336,000 after buying an additional 1,507 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Occidental Petroleum by 30.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,919 shares of the oil and gas producer’s stock worth $3,609,000 after buying an additional 17,208 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Occidental Petroleum by 9.7% during the 1st 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 buying an additional 140,528 shares during the last quarter. Verity Asset Management Inc. increased its holdings in shares of Occidental Petroleum by 92.5% during the 1st quarter. Verity Asset Management Inc. now owns 38,328 shares of the oil and gas producer’s stock worth $1,892,000 after buying an additional 18,415 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Occidental Petroleum by 1.5% during the 1st quarter. Amalgamated Bank now owns 131,727 shares of the oil and gas producer’s stock worth $6,502,000 after buying an additional 1,929 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OXY shares. UBS Group lowered their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a research report on Friday, October 3rd. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.26.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $42.31 on Tuesday. 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 52 week low of $34.78 and a 52 week high of $53.20. The stock has a market capitalization of $41.65 billion, a PE ratio of 25.03 and a beta of 0.95. The firm has a 50 day moving average of $45.17 and a two-hundred day moving average of $43.52.

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, 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 during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter last year, the company posted $1.03 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 10th. Occidental Petroleum’s payout ratio is 56.80%.

Occidental Petroleum Company Profile

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.