Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Generali Investments Management Co LLC

Generali Investments Management Co LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 77.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,715 shares of the oil and gas producer's stock after selling 19,901 shares during the quarter. Generali Investments Management Co LLC's holdings in Occidental Petroleum were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Howard Capital Management Inc. raised its position in shares of Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock worth $209,000 after buying an additional 216 shares during the period. Deseret Mutual Benefit Administrators increased its stake in Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock worth $58,000 after acquiring an additional 248 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after purchasing an additional 257 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after purchasing an additional 274 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Occidental Petroleum by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock worth $2,863,000 after purchasing an additional 290 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY opened at $41.78 on Friday. The company has a market capitalization of $41.12 billion, a P/E ratio of 17.12 and a beta of 0.81. The company has a 50-day moving average of $40.89 and a 200-day moving average of $46.13. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. 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 quarterly earnings data 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 return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. Equities analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OXY. JPMorgan Chase & Co. reduced their price target on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. TD Cowen lowered shares of Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their target price for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Stephens reduced their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler decreased their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average price target of $53.14.

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.

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