Benin Management CORP Sells 300 Shares of Occidental Petroleum Corporation $OXY

Benin Management CORP cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,454 shares of the oil and gas producer’s stock after selling 300 shares during the period. Benin Management CORP’s holdings in Occidental Petroleum were worth $229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after acquiring an additional 12,107,285 shares in the last quarter. Nuveen LLC acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $99,853,000. Dimensional Fund Advisors LP boosted its stake in Occidental Petroleum by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after acquiring an additional 710,220 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Occidental Petroleum by 926.9% in the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock valued at $38,381,000 after acquiring an additional 701,846 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $28,584,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 0.2%

Shares of Occidental Petroleum stock opened at $40.93 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a fifty day moving average price of $45.34 and a 200 day moving average price of $43.37. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The stock has a market cap of $40.29 billion, a PE ratio of 24.22 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Analyst Ratings Changes

Several brokerages have weighed in on OXY. Evercore ISI lowered their target price on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Melius started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Scotiabank raised their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $52.26.

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.