Occidental Petroleum Co. (NYSE:OXY) Position Trimmed by FNY Investment Advisers LLC

FNY Investment Advisers LLC reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 65.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,421 shares of the oil and gas producer’s stock after selling 2,639 shares during the quarter. FNY Investment Advisers LLC’s holdings in Occidental Petroleum were worth $70,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Altshuler Shaham Ltd bought a new position in Occidental Petroleum in the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum during the 4th quarter valued at approximately $32,000. Finally, American National Bank & Trust bought a new position in Occidental Petroleum during the 1st quarter worth $39,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. Barclays boosted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Citigroup upped their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Hsbc Global Res raised Occidental Petroleum to a “hold” rating in a report on Wednesday, April 16th. TD Cowen downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Finally, Scotiabank cut Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price on the stock. in a research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Trading Down 2.4%

Occidental Petroleum stock opened at $45.32 on Tuesday. The firm has a market cap of $44.60 billion, a price-to-earnings ratio of 18.57 and a beta of 0.87. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The firm’s 50 day moving average price is $41.24 and its two-hundred day moving average price is $45.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.12%. Occidental Petroleum’s payout ratio is presently 39.02%.

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.