OLD National Bancorp IN Sells 280 Shares of Occidental Petroleum Co. (NYSE:OXY)

OLD National Bancorp IN lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,134 shares of the oil and gas producer’s stock after selling 280 shares during the quarter. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Howard Capital Management Inc. grew its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 248 shares in the last quarter. Horizon Investments LLC boosted its holdings in shares of Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock worth $554,000 after purchasing an additional 257 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer’s stock worth $81,000 after purchasing an additional 274 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Occidental Petroleum by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer’s stock worth $2,863,000 after purchasing an additional 290 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OXY. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Citigroup raised their price target on Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. TD Cowen lowered Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Scotiabank lowered Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price target for the company. in a research note on Friday, April 11th. Finally, Hsbc Global Res raised Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $43.89 on Wednesday. The business’s 50 day simple moving average is $40.64 and its 200-day simple moving average is $45.93. The firm has a market capitalization of $43.20 billion, a price-to-earnings ratio of 17.99 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating 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 16.33% and a net margin of 11.37%. Occidental Petroleum’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.19%. Occidental Petroleum’s payout ratio is 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.