Generali Investments Management Co LLC Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

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

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

Occidental Petroleum Trading Up 1.6%

NYSE OXY traded up $0.69 on Monday, hitting $43.23. The company's stock had a trading volume of 9,759,560 shares, compared to its average volume of 11,319,640. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $42.55 billion, a PE ratio of 17.72 and a beta of 0.87. The company's 50-day moving average is $40.76 and its 200 day moving average is $46.00.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. Occidental Petroleum's revenue was up 13.9% on a year-over-year basis. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.22%. Occidental Petroleum's payout ratio is 39.02%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. UBS Group lowered their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price objective on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. 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's stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price 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.