Edgestream Partners L.P. decreased its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 48.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,436 shares of the oil and gas producer's stock after selling 9,960 shares during the period. Edgestream Partners L.P.'s holdings in Occidental Petroleum were worth $515,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum in the fourth quarter valued at $26,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at $32,000. Grove Bank & Trust boosted its stake in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of Occidental Petroleum during the first quarter valued at $39,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 88.70% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently commented on OXY. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Piper Sandler increased their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday. Mizuho decreased their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $53.71.
View Our Latest Stock Analysis on OXY
Occidental Petroleum Stock Up 0.2%
Shares of NYSE:OXY traded up $0.08 during mid-day trading on Friday, hitting $43.63. 11,719,864 shares of the company traded hands, compared to its average volume of 12,059,658. The firm has a market cap of $42.94 billion, a P/E ratio of 17.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a 52-week low of $34.79 and a 52-week high of $62.55. The firm's 50 day simple moving average is $43.39 and its 200 day simple moving average is $45.11.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company's revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.
Occidental Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. Occidental Petroleum's payout ratio is currently 39.02%.
Occidental Petroleum Profile
(
Free Report)
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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