Occidental Petroleum Corporation $OXY Shares Sold by MYDA Advisors LLC

Key Points

• MYDA Advisors LLC significantly reduced its stake in Occidental Petroleum by 66.7%, holding only 40,000 shares after selling 80,000 shares in the first quarter.
• Occidental Petroleum's recent quarterly results showed an earnings per share of $0.39, exceeding analyst expectations despite a 6.1% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.24 per share, with a dividend yield of 2.0%, and the ex-dividend date set for September 10th.

MYDA Advisors LLC trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 66.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the oil and gas producer's stock after selling 80,000 shares during the quarter. MYDA Advisors LLC's holdings in Occidental Petroleum were worth $1,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OXY. Vanguard Group Inc. increased its position in shares of Occidental Petroleum by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares during the last quarter. Berkshire Hathaway Inc grew its position in Occidental Petroleum by 3.5% in the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after acquiring an additional 8,896,890 shares in the last quarter. Nuveen LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at about $99,853,000. Worldquant Millennium Advisors LLC grew its position in Occidental Petroleum by 1,075.3% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after acquiring an additional 1,766,491 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock valued at $401,162,000 after acquiring an additional 710,220 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OXY shares. UBS Group lifted their target price on Occidental Petroleum from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Barclays lifted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Morgan Stanley reiterated an "equal weight" rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research note on Monday, August 18th. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $54.65.

Occidental Petroleum Stock Up 0.3%

OXY stock traded up $0.14 during trading on Monday, hitting $47.65. 5,793,572 shares of the company's stock were exchanged, compared to its average volume of 9,574,829. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $57.57. The business has a 50-day moving average price of $44.30 and a two-hundred day moving average price of $44.01. The stock has a market capitalization of $46.91 billion, a price-to-earnings ratio of 28.19 and a beta of 1.04.

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

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. Occidental Petroleum's payout ratio is presently 56.80%.

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.