Vermillion Wealth Management Inc. lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 97.4% during the first quarter, HoldingsChannel reports. The firm owned 471 shares of the oil and gas producer’s stock after selling 17,605 shares during the period. Vermillion Wealth Management Inc.’s holdings in Occidental Petroleum were worth $31,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after purchasing an additional 699,137 shares in the last quarter. State Street Corp lifted its holdings in Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after buying an additional 828,848 shares in the last quarter. Geode Capital Management LLC boosted its position in Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock valued at $771,949,000 after buying an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on OXY shares. Wolfe Research boosted their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $72.00 in a research note on Tuesday, May 26th. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Wells Fargo & Company upped their target price on Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, The Goldman Sachs Group raised shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $63.74.
Occidental Petroleum Stock Up 0.7%
Shares of Occidental Petroleum stock opened at $52.34 on Wednesday. The business has a 50-day moving average price of $56.70 and a 200 day moving average price of $51.67. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a market cap of $52.06 billion, a P/E ratio of 13.18 and a beta of 0.14. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the business posted $0.14 EPS. Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 5.79 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.
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.
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