Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 18.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,994 shares of the oil and gas producer's stock after selling 27,090 shares during the quarter. Skylands Capital LLC's holdings in Occidental Petroleum were worth $5,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OXY. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $27,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. bought a new position in Occidental Petroleum during the fourth quarter worth $32,000. Finally, Grove Bank & Trust boosted its holdings in Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of OXY opened at $42.66 on Friday. The firm has a market capitalization of $41.99 billion, a price-to-earnings ratio of 17.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76. The stock's fifty day moving average is $42.21 and its 200-day moving average is $45.48.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for 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%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OXY shares. Piper Sandler decreased their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Wells Fargo & Company lifted their price objective on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday. Mizuho decreased their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Barclays lifted their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $53.38.

Occidental Petroleum Company 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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