D.A. Davidson & CO. Lowers Holdings in Occidental Petroleum Corporation (NYSE:OXY)

D.A. Davidson & CO. reduced its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 16.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,683 shares of the oil and gas producer's stock after selling 6,715 shares during the period. D.A. Davidson & CO.'s holdings in Occidental Petroleum were worth $1,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Occidental Petroleum by 18.1% during the 4th 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 in the last quarter. Berkshire Hathaway Inc increased its position in shares of Occidental Petroleum by 3.5% during the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after acquiring an additional 8,896,890 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in Occidental Petroleum by 1,075.3% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after acquiring an additional 1,766,491 shares in the last quarter. Marshall Wace LLP boosted its stake in Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after purchasing an additional 1,337,728 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after purchasing an additional 1,278,389 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Finally, Citigroup increased their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $53.38.

Occidental Petroleum Trading Down 1.0%

Shares of OXY opened at $43.37 on Tuesday. The firm has a market cap of $42.68 billion, a P/E ratio of 17.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. Occidental Petroleum Corporation has a 1 year low of $34.79 and a 1 year high of $64.76. The company has a 50 day simple moving average of $42.60 and a two-hundred day simple moving average of $45.33.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its 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. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the company posted $0.63 earnings per share. Occidental Petroleum's quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.21%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is presently 39.02%.

About Occidental Petroleum

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.