Occidental Petroleum Corporation $OXY Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its stake in Occidental Petroleum Corporation by 14.2%, owning 167,308 shares worth approximately $7,029,000 after selling 27,730 shares in Q2.
• Several institutional investors increased their stakes significantly in Q1, with Grove Bank & Trust boosting its holdings by 129.2% and Spectrum Wealth Counsel LLC lifting its position by 5,000.0%.
• Occidental Petroleum recently announced a quarterly dividend of $0.24 per share, representing an annualized dividend yield of 2.1%, with a payout ratio of 56.80%.

Janney Montgomery Scott LLC cut its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 14.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 167,308 shares of the oil and gas producer's stock after selling 27,730 shares during the period. Janney Montgomery Scott LLC's holdings in Occidental Petroleum were worth $7,029,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its holdings 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 buying an additional 407 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Spectrum Wealth Counsel LLC lifted its position in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at about $54,000. Finally, Trifecta Capital Advisors LLC lifted its position in Occidental Petroleum by 4,393.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer's stock valued at $73,000 after purchasing an additional 1,450 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OXY has been the topic of several recent research reports. HSBC upgraded shares of Occidental Petroleum from a "hold" rating to a "buy" rating and lifted their price objective for the company from $48.00 to $55.00 in a research report on Friday. Wall Street Zen downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Roth Capital lifted their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday. Scotiabank lifted their price objective on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $52.87.

Occidental Petroleum Stock Up 1.4%

NYSE OXY opened at $44.86 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company's 50 day simple moving average is $45.63 and its 200 day simple moving average is $43.76. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49. The company has a market capitalization of $44.16 billion, a P/E ratio of 26.54 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. Equities research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is 56.80%.

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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