Ascent Group LLC Trims Stock Holdings in Occidental Petroleum Corporation $OXY

Ascent Group LLC decreased its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 56.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,358 shares of the oil and gas producer's stock after selling 6,808 shares during the quarter. Ascent Group LLC's holdings in Occidental Petroleum were worth $225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Occidental Petroleum in the first quarter worth about $1,274,000. Kestra Private Wealth Services LLC boosted its stake in shares of Occidental Petroleum by 5.6% in the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock worth $843,000 after acquiring an additional 906 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Occidental Petroleum by 9.7% in the first 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 acquiring an additional 140,528 shares during the period. swisspartners Advisors Ltd bought a new position in shares of Occidental Petroleum in the first quarter worth about $6,006,000. Finally, Blackhawk Capital Partners LLC. bought a new position in shares of Occidental Petroleum in the first quarter worth about $344,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OXY. Morgan Stanley reaffirmed an "equal weight" rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research note on Monday, August 18th. Melius assumed coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price objective for the company. Melius Research assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Occidental Petroleum in a report on Wednesday. Finally, Hsbc Global Res upgraded Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $52.43.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $45.05 on Thursday. The business has a 50-day simple moving average of $45.63 and a two-hundred day simple moving average of $43.76. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The company has a market cap of $44.35 billion, a PE ratio of 26.66 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The firm's revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business 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. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Occidental Petroleum's dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum 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.

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