Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,626 shares of the oil and gas producer's stock after selling 7,619 shares during the period. Wealthfront Advisers LLC's holdings in Occidental Petroleum were worth $16,172,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $32,000. 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 valued at $36,000 after purchasing an additional 407 shares in the last quarter. Finally, American National Bank & Trust acquired a new position in Occidental Petroleum in the first quarter valued at approximately $39,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Barclays increased their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, UBS Group decreased their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Three 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.com, the stock has an average rating of "Hold" and an average price target of $53.62.

Occidental Petroleum Trading Down 0.1%

NYSE:OXY traded down $0.05 during mid-day trading on Wednesday, reaching $42.64. The company's stock had a trading volume of 13,658,627 shares, compared to its average volume of 11,999,236. The company's fifty day simple moving average is $43.25 and its two-hundred day simple moving average is $45.23. 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 Corporation has a twelve month low of $34.79 and a twelve month high of $64.76. The stock has a market cap of $41.96 billion, a P/E ratio of 17.33 and a beta of 0.84.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The firm 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 firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 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.