Cutter & CO Brokerage Inc. Increases Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Cutter & CO Brokerage Inc. raised its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 8.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,475 shares of the oil and gas producer's stock after purchasing an additional 9,142 shares during the quarter. Occidental Petroleum accounts for 1.3% of Cutter & CO Brokerage Inc.'s investment portfolio, making the stock its 19th largest position. Cutter & CO Brokerage Inc.'s holdings in Occidental Petroleum were worth $5,601,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OXY. Benchmark Investment Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth about $642,000. Vanguard Group Inc. raised its holdings in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 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 during the period. Invesco Ltd. lifted its stake in Occidental Petroleum by 25.2% in the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after purchasing an additional 491,797 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. TD Cowen cut Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. UBS Group lowered their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Stephens cut their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Finally, Scotiabank raised their price target on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $53.62.

Occidental Petroleum Trading Down 2.5%

Shares of Occidental Petroleum stock traded down $1.17 during trading on Monday, reaching $45.14. The company's stock had a trading volume of 10,951,233 shares, compared to its average volume of 12,209,466. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The company has a market cap of $44.43 billion, a price-to-earnings ratio of 18.35 and a beta of 0.84. The firm's 50-day moving average is $43.05 and its two-hundred day moving average is $45.27. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $64.75.

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 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion for 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 period in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.13%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

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.