Janney Montgomery Scott LLC Has $9.63 Million Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Janney Montgomery Scott LLC lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,038 shares of the oil and gas producer's stock after selling 13,515 shares during the quarter. Janney Montgomery Scott LLC's holdings in Occidental Petroleum were worth $9,627,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in Occidental Petroleum during the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the 4th quarter worth about $27,000. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $32,000. Finally, American National Bank & Trust bought a new position in shares of Occidental Petroleum in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.7%

OXY stock traded up $0.33 during mid-day trading on Friday, hitting $45.68. 23,497,347 shares of the company were exchanged, compared to its average volume of 11,519,136. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The firm has a market cap of $44.96 billion, a P/E ratio of 18.57 and a beta of 0.87. The firm's 50 day simple moving average is $41.78 and its 200 day simple moving average is $45.67. Occidental Petroleum Corporation has a 1-year low of $34.79 and a 1-year high of $64.76.

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, topping the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.10%. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Stephens reduced their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a research note on Friday, April 11th. Piper Sandler reduced their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho reduced their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average price target of $53.14.

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.