Occidental Petroleum Corporation $OXY Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,607 shares of the oil and gas producer’s stock after selling 11,907 shares during the period. Janney Montgomery Scott LLC’s holdings in Occidental Petroleum were worth $8,815,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Woodline Partners LP lifted its position in Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after acquiring an additional 16,506 shares in the last quarter. Marshall Wace LLP acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $4,584,000. Federated Hermes Inc. raised its stake in shares of Occidental Petroleum by 696.7% during the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after purchasing an additional 7,285 shares during the period. Finally, AXA S.A. lifted its position in shares of Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after purchasing an additional 26,741 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Raymond James Financial boosted their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Truist Financial decreased their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Roth Mkm lifted their target price on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group boosted their price target on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.30.

Occidental Petroleum Stock Down 0.1%

Shares of NYSE:OXY opened at $48.84 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $55.65 and a 200 day simple moving average of $52.04. The firm has a market cap of $48.58 billion, a PE ratio of 12.30 and a beta of 0.15. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm’s revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 5.99 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.