Resource Management LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 12,911 shares of the oil and gas producer’s stock after selling 243 shares during the period. Resource Management LLC’s holdings in Occidental Petroleum were worth $855,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. UBS Oconnor LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $4,604,000. Providence Wealth Advisors LLC increased its position in shares of Occidental Petroleum by 18.3% in the first quarter. Providence Wealth Advisors LLC now owns 11,584 shares of the oil and gas producer’s stock worth $774,000 after purchasing an additional 1,791 shares during the last quarter. Aspire Private Capital LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $410,000. Balasa Dinverno & Foltz LLC increased its position in shares of Occidental Petroleum by 29.4% in the fourth quarter. Balasa Dinverno & Foltz LLC now owns 4,017 shares of the oil and gas producer’s stock worth $247,000 after purchasing an additional 912 shares during the last quarter. Finally, Korea Investment CORP increased its position in shares of Occidental Petroleum by 5.9% in the fourth quarter. Korea Investment CORP now owns 922,832 shares of the oil and gas producer’s stock worth $56,643,000 after purchasing an additional 51,800 shares during the last quarter. 81.78% of the stock is currently owned by institutional investors.
NYSE OXY traded up $0.56 on Monday, reaching $53.47. 14,996,818 shares of the company’s stock traded hands, compared to its average volume of 16,128,800. Occidental Petroleum Co. has a 12 month low of $52.47 and a 12 month high of $87.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.03. The stock has a market capitalization of $39.99 billion, a P/E ratio of 10.67, a PEG ratio of 2.76 and a beta of 0.76.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is currently 62.28%.
Several research analysts recently weighed in on the stock. ValuEngine cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Morgan Stanley set a $69.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Wolfe Research cut shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $85.00 to $65.00 in a research report on Monday, May 13th. Argus cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price objective on the stock. in a research report on Thursday, May 16th. Finally, Citigroup cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $72.00 in a research report on Tuesday, February 19th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $75.30.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
Featured Story: What is an overbought condition?
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.