Private Wealth Partners LLC Sells 15,900 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Private Wealth Partners LLC reduced its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 22.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,200 shares of the oil and gas producer's stock after selling 15,900 shares during the period. Private Wealth Partners LLC's holdings in Occidental Petroleum were worth $2,725,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Benchmark Investment Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $642,000. Fisher Asset Management LLC lifted its holdings in Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock worth $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Milestones Administradora de Recursos Ltda. lifted its holdings in Occidental Petroleum by 10.6% in the 4th quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer's stock worth $9,577,000 after purchasing an additional 18,500 shares in the last quarter. Sage Investment Counsel LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $499,000. Finally, Snider Financial Group purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $390,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on OXY shares. Scotiabank cut Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target on the stock. in a report on Friday, April 11th. Mizuho lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. UBS Group lowered their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Trading Down 3.6%

NYSE:OXY traded down $1.63 during midday trading on Monday, hitting $44.00. 27,343,057 shares of the company traded hands, compared to its average volume of 11,584,634. The firm's fifty day moving average is $41.90 and its 200-day moving average is $45.62. Occidental Petroleum Corporation has a 12-month low of $34.79 and a 12-month high of $64.76. The firm has a market capitalization of $43.30 billion, a P/E ratio of 17.89 and a beta of 0.87. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released 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. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. Occidental Petroleum's quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

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.