Axxcess Wealth Management LLC Sells 29,560 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Axxcess Wealth Management LLC lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 64.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,384 shares of the oil and gas producer's stock after selling 29,560 shares during the quarter. Axxcess Wealth Management LLC's holdings in Occidental Petroleum were worth $809,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum during the 4th quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum during the 4th quarter valued at approximately $32,000. Grove Bank & Trust grew its holdings in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 407 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Occidental Petroleum during the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 1.0%

NYSE OXY traded up $0.48 on Friday, reaching $46.33. 7,596,749 shares of the stock traded hands, compared to its average volume of 11,909,857. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The company has a fifty day moving average price of $43.05 and a 200-day moving average price of $45.29. The company has a market cap of $45.59 billion, a price-to-earnings ratio of 18.83 and a beta of 0.84. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76.

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 for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. Occidental Petroleum's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced 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 2.07%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Wall Street Analyst Weigh In

OXY has been the subject of several research analyst reports. Susquehanna cut their price target on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Mizuho dropped their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company lifted their target price on Occidental Petroleum from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Finally, Citigroup lifted their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.62.

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.