Curated Wealth Partners LLC cut its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 63.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,650 shares of the oil and gas producer’s stock after selling 40,756 shares during the quarter. Curated Wealth Partners LLC’s holdings in Occidental Petroleum were worth $1,308,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in OXY. Mainsail Asset Management LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $295,000. Sanders Morris Harris LLC acquired a new position in shares of Occidental Petroleum during the third quarter valued at about $2,086,000. XY Planning Network Inc. purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $252,000. Womack Financial LLC raised its position in shares of Occidental Petroleum by 4.3% in the 3rd quarter. Womack Financial LLC now owns 12,664 shares of the oil and gas producer’s stock valued at $701,000 after purchasing an additional 520 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of Occidental Petroleum by 8.4% in the 3rd quarter. Salem Investment Counselors Inc. now owns 11,117 shares of the oil and gas producer’s stock valued at $618,000 after purchasing an additional 861 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on OXY. Zacks Research downgraded shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Wall Street Zen raised shares of Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. The Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and raised their price target for the stock from $63.00 to $69.00 in a report on Thursday, October 1st. Stifel Nicolaus assumed coverage on shares of Occidental Petroleum in a research note on Thursday, September 10th. They set a “hold” rating and a $68.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $65.96.
Get Our Latest Stock Report on OXY
Occidental Petroleum Stock Performance
Shares of NYSE:OXY traded down $0.80 during trading on Thursday, hitting $60.61. The stock had a trading volume of 3,626,278 shares, compared to its average volume of 12,063,939. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The stock has a market capitalization of $60.59 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.24. The stock has a 50-day simple moving average of $59.18 and a two-hundred day simple moving average of $57.28.
Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Occidental Petroleum’s revenue for the quarter was up 53.4% on a year-over-year basis. On average, equities research analysts expect that Occidental Petroleum Corporation will post 6.20 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Occidental Petroleum’s payout ratio is presently 17.34%.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.
The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.
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