Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 reporting period.

Several other hedge funds also recently bought and sold shares of OXY. Benchmark Investment Advisors LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at $642,000. Fisher Asset Management LLC increased its stake in Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Milestones Administradora de Recursos Ltda. lifted its position in Occidental Petroleum by 10.6% during the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer's stock worth $9,577,000 after buying an additional 18,500 shares during the period. Sage Investment Counsel LLC acquired a new stake in Occidental Petroleum in the 4th quarter worth about $499,000. Finally, Snider Financial Group acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at about $390,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Scotiabank cut shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a research note on Friday, April 11th. Stephens dropped their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their price target on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. 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 stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and an average target price of $53.14.

Occidental Petroleum Stock Down 3.3%

OXY stock traded down $1.46 during mid-day trading on Tuesday, hitting $42.49. 20,460,538 shares of the company were exchanged, compared to its average volume of 11,620,235. The company has a market capitalization of $41.81 billion, a PE ratio of 17.27 and a beta of 0.87. The firm has a fifty day simple moving average of $41.90 and a 200 day simple moving average of $45.62. 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 Corporation has a twelve month low of $34.79 and a twelve month high of $64.76.

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

Occidental Petroleum Announces Dividend

The firm also recently declared 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. This represents a $0.96 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) 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.