Sharpepoint LLC Cuts Position in Occidental Petroleum Corporation $OXY

Sharpepoint LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 88.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,610 shares of the oil and gas producer’s stock after selling 67,762 shares during the quarter. Sharpepoint LLC’s holdings in Occidental Petroleum were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Carrera Capital Advisors grew its holdings in Occidental Petroleum by 0.5% in the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 227 shares during the period. Apella Capital LLC grew its holdings in Occidental Petroleum by 3.4% in the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock worth $289,000 after purchasing an additional 233 shares during the period. Jamison Private Wealth Management Inc. grew its holdings in Occidental Petroleum by 1.8% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock worth $573,000 after purchasing an additional 249 shares during the period. Woodward Diversified Capital LLC grew its holdings in Occidental Petroleum by 4.2% in the fourth quarter. Woodward Diversified Capital LLC now owns 6,652 shares of the oil and gas producer’s stock worth $274,000 after purchasing an additional 270 shares during the period. Finally, Independent Advisor Alliance grew its holdings in shares of Occidental Petroleum by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 26,092 shares of the oil and gas producer’s stock valued at $1,073,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.0%

Shares of OXY stock opened at $57.14 on Thursday. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $58.18 and its 200 day moving average is $50.93. The stock has a market capitalization of $56.83 billion, a P/E ratio of 14.39 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. Research analysts expect that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Capital One Financial increased their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. Mizuho increased their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Citigroup cut their price target on shares of Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Zacks Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, BMO Capital Markets increased their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.74.

About Occidental Petroleum

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.