Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc lowered its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,307 shares of the oil and gas producer's stock after selling 6,720 shares during the period. Northeast Financial Consultants Inc's holdings in Occidental Petroleum were worth $2,881,000 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. Principal Financial Group Inc. increased its stake in shares of Occidental Petroleum by 7.1% in the third quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer's stock worth $39,880,000 after acquiring an additional 51,042 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Occidental Petroleum by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 77,080 shares of the oil and gas producer's stock worth $3,973,000 after acquiring an additional 926 shares during the period. Czech National Bank increased its stake in shares of Occidental Petroleum by 6.8% in the fourth quarter. Czech National Bank now owns 146,485 shares of the oil and gas producer's stock worth $7,238,000 after acquiring an additional 9,322 shares during the period. Brookstone Capital Management grew its position in Occidental Petroleum by 13.3% during the fourth quarter. Brookstone Capital Management now owns 11,630 shares of the oil and gas producer's stock valued at $575,000 after buying an additional 1,367 shares during the period. Finally, CHICAGO TRUST Co NA grew its position in Occidental Petroleum by 21.6% during the fourth quarter. CHICAGO TRUST Co NA now owns 15,859 shares of the oil and gas producer's stock valued at $784,000 after buying an additional 2,812 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on OXY. TD Cowen lowered shares of Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Barclays raised their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Stephens decreased their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $81.00 to $64.00 in a report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $53.48.

Occidental Petroleum Trading Down 0.8%

OXY stock traded down $0.35 during trading on Friday, reaching $43.02. 7,555,730 shares of the stock were exchanged, compared to its average volume of 11,173,057. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $42.75 and a 200-day moving average price of $47.05. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The firm has a market capitalization of $42.34 billion, a price-to-earnings ratio of 17.63 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. Occidental Petroleum's quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Co. 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 Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

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.