Occidental Petroleum Corporation $OXY Shares Sold by Sowell Financial Services LLC

Key Points

• Sowell Financial Services LLC reduced its holdings in Occidental Petroleum by 52.9% in the second quarter, now owning 9,227 shares worth $388,000.
• Occidental Petroleum's stock price opened at $47.00, with a market capitalization of $46.27 billion and a 12-month high of $56.49.
• The company announced a quarterly dividend of $0.24 per share, payable on October 15th, representing an annualized dividend yield of 2.0%.

Sowell Financial Services LLC lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 52.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,227 shares of the oil and gas producer's stock after selling 10,374 shares during the quarter. Sowell Financial Services LLC's holdings in Occidental Petroleum were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grove Bank & Trust raised its stake in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after buying an additional 407 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $39,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $39,000. Spectrum Wealth Counsel LLC raised its stake in shares of Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock worth $50,000 after buying an additional 1,000 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $54,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.2%

OXY opened at $47.00 on Friday. 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 stock has a market capitalization of $46.27 billion, a price-to-earnings ratio of 27.81 and a beta of 1.04. The business has a 50-day moving average of $45.31 and a two-hundred day moving average of $43.82. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm's revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

OXY has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Mizuho cut their target price on shares of Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Morgan Stanley reissued an "equal weight" rating and issued a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. Piper Sandler boosted their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company cut their target price on shares of 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. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.70.

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.

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