Wolverine Asset Management LLC Sells 15,427 Shares of Occidental Petroleum Corporation $OXY

Wolverine Asset Management LLC lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 81.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,417 shares of the oil and gas producer’s stock after selling 15,427 shares during the period. Wolverine Asset Management LLC’s holdings in Occidental Petroleum were worth $161,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Occidental Petroleum during the second quarter worth $27,000. City Holding Co. increased its position in Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 788 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $38,000. Finally, MeadowBrook Investment Advisors LLC grew its stake in shares of Occidental Petroleum by 371.7% during the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 788 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 1.0%

OXY opened at $42.74 on Monday. The company has a fifty day moving average of $41.55 and a two-hundred day moving average of $43.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $52.58. The stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 31.43 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the business earned $1.00 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

Analyst Ratings Changes

OXY has been the subject of a number of recent analyst reports. Mizuho lifted their target price on shares of Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Susquehanna increased their price objective on Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, November 13th. Scotiabank decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating for the company in a report on Friday. Finally, HSBC cut their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.43.

Insider Activity

In related news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum 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.