Corient Private Wealth LLC Lowers Holdings in Occidental Petroleum Corporation $OXY

Corient Private Wealth LLC decreased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 6.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 170,020 shares of the oil and gas producer’s stock after selling 11,005 shares during the quarter. Corient Private Wealth LLC’s holdings in Occidental Petroleum were worth $6,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $22,345,000. DNB Asset Management AS raised its holdings in Occidental Petroleum by 100.3% in the 3rd quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock valued at $12,654,000 after buying an additional 134,128 shares during the period. Mirabella Financial Services LLP lifted its position in Occidental Petroleum by 154.7% in the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock valued at $1,394,000 after buying an additional 17,958 shares during the last quarter. National Pension Service lifted its position in Occidental Petroleum by 13.0% in the fourth quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after buying an additional 124,879 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Occidental Petroleum by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after buying an additional 699,137 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.1%

Shares of OXY stock opened at $51.14 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a 50 day moving average price of $56.47 and a 200 day moving average price of $51.79. The stock has a market capitalization of $50.87 billion, a P/E ratio of 12.88 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.44 billion. During the same period in the prior year, the business earned $0.14 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $72.00 in a research report on Tuesday, May 26th. BMO Capital Markets increased their price objective on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. UBS Group dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Morgan Stanley boosted their target price on Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.74.

Insider Activity

In related news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

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.