Cambridge Investment Research Advisors Inc. Cuts Stake in Occidental Petroleum Corporation (NYSE:OXY)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.9% during the 1st quarter, HoldingsChannel reports. The fund owned 97,890 shares of the oil and gas producer’s stock after selling 905 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Occidental Petroleum were worth $4,832,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OXY. Benchmark Investment Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $642,000. Fisher Asset Management LLC boosted its holdings in shares of Occidental Petroleum by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after acquiring an additional 6,461 shares during the period. Milestones Administradora de Recursos Ltda. raised its stake in shares of Occidental Petroleum by 10.6% during the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock valued at $9,577,000 after purchasing an additional 18,500 shares in the last quarter. Sage Investment Counsel LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $499,000. Finally, Snider Financial Group bought a new stake in Occidental Petroleum in the fourth quarter worth about $390,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 1.2%

Shares of Occidental Petroleum stock opened at $42.66 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76. The stock has a market cap of $41.99 billion, a PE ratio of 17.34 and a beta of 0.87. The business has a fifty day simple moving average of $42.21 and a 200 day simple moving average of $45.51.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. Research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OXY shares. Susquehanna dropped their price target on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. UBS Group lowered their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company upped their target price on Occidental Petroleum from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $53.38.

Occidental Petroleum 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.