MGO One Seven LLC Reduces Position in Occidental Petroleum Corporation $OXY

MGO One Seven LLC lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,022 shares of the oil and gas producer’s stock after selling 10,763 shares during the period. MGO One Seven LLC’s holdings in Occidental Petroleum were worth $1,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Swedbank AB boosted its holdings in shares of Occidental Petroleum by 4.8% in the fourth quarter. Swedbank AB now owns 787,586 shares of the oil and gas producer’s stock valued at $32,386,000 after purchasing an additional 35,905 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Occidental Petroleum by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,539,035 shares of the oil and gas producer’s stock valued at $65,224,000 after purchasing an additional 83,263 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Occidental Petroleum by 1.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 108,795 shares of the oil and gas producer’s stock valued at $4,474,000 after purchasing an additional 1,630 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Occidental Petroleum by 4.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 27,606 shares of the oil and gas producer’s stock valued at $1,135,000 after purchasing an additional 1,291 shares during the period. Finally, Garner Asset Management Corp purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 4.0%

Occidental Petroleum stock opened at $55.17 on Tuesday. The business has a fifty day moving average of $58.13 and a two-hundred day moving average of $48.36. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The firm has a market cap of $54.88 billion, a P/E ratio of 13.90 and a beta of 0.17. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, analysts forecast that Occidental Petroleum Corporation will post 4.87 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 26.20%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OXY shares. UBS Group lowered their price target on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Barclays boosted their price target on Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Citigroup lowered their price target on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Wolfe Research upped their target price on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, BMO Capital Markets upped their target price on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.43.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.