Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC cut its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 14.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,283 shares of the oil and gas producer’s stock after selling 736 shares during the quarter. Ballentine Partners LLC’s holdings in Occidental Petroleum were worth $211,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum in the 4th quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $32,000. Grove Bank & Trust grew its stake in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the period. Finally, American National Bank & Trust bought a new stake in shares of Occidental Petroleum in the first quarter valued at about $39,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Piper Sandler raised their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup boosted their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Finally, UBS Group lowered their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a report 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.71.

Occidental Petroleum Stock Up 2.2%

OXY stock opened at $43.55 on Friday. The firm’s 50 day moving average price is $43.36 and its 200-day moving average price is $45.18. The firm has a market cap of $42.86 billion, a PE ratio of 17.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76.

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

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th were issued a $0.24 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.20%. Occidental Petroleum’s payout ratio is currently 39.02%.

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.