Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Choreo LLC

Choreo LLC lowered its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 28.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,433 shares of the oil and gas producer's stock after selling 17,337 shares during the period. Choreo LLC's holdings in Occidental Petroleum were worth $2,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Benchmark Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $642,000. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Occidental Petroleum during the 1st quarter worth approximately $1,274,000. Kestra Private Wealth Services LLC boosted its stake in shares of Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock valued at $843,000 after purchasing an additional 906 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Occidental Petroleum by 9.7% in 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 purchasing an additional 140,528 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Up 0.2%

Shares of NYSE:OXY traded up $0.08 during trading on Friday, hitting $44.71. 5,626,932 shares of the company were exchanged, compared to its average volume of 10,707,318. The stock has a market cap of $44.00 billion, a price-to-earnings ratio of 18.18 and a beta of 0.84. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $61.35. The firm has a fifty day moving average price of $43.43 and a two-hundred day moving average price of $44.92. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.15%. Occidental Petroleum's payout ratio is currently 39.02%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Citigroup increased their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Piper Sandler increased their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Stephens decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group reduced their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $53.71.

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.