Avior Wealth Management LLC Reduces Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Avior Wealth Management LLC cut its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,408 shares of the oil and gas producer's stock after selling 16,836 shares during the quarter. Avior Wealth Management LLC's holdings in Occidental Petroleum were worth $2,181,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc grew its stake in Occidental Petroleum by 3.5% in the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after buying an additional 8,896,890 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Occidental Petroleum by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after purchasing an additional 398,467 shares during the period. Northern Trust Corp lifted its holdings in Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after purchasing an additional 491,797 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Down 3.3%

Occidental Petroleum stock traded down $1.46 during trading hours on Tuesday, reaching $42.49. The company had a trading volume of 20,460,538 shares, compared to its average volume of 11,620,272. The firm has a market cap of $41.81 billion, a price-to-earnings ratio of 17.27 and a beta of 0.87. Occidental Petroleum Corporation has a 12-month low of $34.79 and a 12-month high of $64.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The company has a 50-day moving average price of $41.90 and a 200 day moving average price of $45.62.

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

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is 39.02%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OXY. 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 report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Raymond James Financial cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $81.00 to $64.00 in a report on Monday, March 10th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.