Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 22.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum during the 4th quarter worth approximately $32,000. Finally, Grove Bank & Trust raised its position 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 valued at $36,000 after purchasing an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 1.4%

Shares of NYSE:OXY opened at $45.34 on Friday. Occidental Petroleum Corporation has a 52 week low of $34.79 and a 52 week high of $64.76. 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 market cap of $44.62 billion, a PE ratio of 18.43 and a beta of 0.87. The firm has a 50 day simple moving average of $41.62 and a 200 day simple moving average of $45.72.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its 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 company had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.12%. Occidental Petroleum's dividend payout ratio is 39.02%.

Analyst Ratings Changes

Several research firms recently weighed in on OXY. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective on the stock. in a research note on Friday, April 11th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Raymond James Financial downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. UBS Group cut their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus price target 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.

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