Avior Wealth Management LLC trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 27.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,408 shares of the oil and gas producer's stock after selling 16,836 shares during the period. Avior Wealth Management LLC's holdings in Occidental Petroleum were worth $2,181,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth about $32,000. Finally, Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 407 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum Stock Performance
Shares of OXY opened at $45.68 on Friday. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76. The company has a 50-day moving average of $41.78 and a two-hundred day moving average of $45.69. The stock has a market cap of $44.96 billion, a price-to-earnings ratio of 18.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79.
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 company 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 business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, equities research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on OXY shares. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. Raymond James Financial cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Wall Street Zen cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Citigroup raised their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $53.14.
Get Our Latest Research Report on OXY
About Occidental Petroleum
(
Free Report)
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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