Stonegate Investment Group LLC Sells 808 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Stonegate Investment Group LLC trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,890 shares of the oil and gas producer’s stock after selling 808 shares during the period. Stonegate Investment Group LLC’s holdings in Occidental Petroleum were worth $241,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Benchmark Investment Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $642,000. Fisher Asset Management LLC grew its stake in shares of Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after purchasing an additional 6,461 shares during the period. Milestones Administradora de Recursos Ltda. grew its stake in shares of Occidental Petroleum by 10.6% in the 4th quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock valued at $9,577,000 after purchasing an additional 18,500 shares during the period. Sage Investment Counsel LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $499,000. Finally, Snider Financial Group bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $390,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

OXY stock opened at $45.68 on Monday. The business’s fifty day moving average is $41.78 and its 200-day moving average is $45.65. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The company has a market cap of $44.96 billion, a P/E ratio of 18.57 and a beta of 0.87. Occidental Petroleum Corporation has a twelve month low of $34.79 and a twelve month high of $64.76.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. Equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.02%.

Wall Street Analyst Weigh In

OXY has been the topic of several analyst reports. UBS Group lowered their price objective on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Mizuho reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Scotiabank downgraded Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price on the stock. in a report on Friday, April 11th. Finally, Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.14.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.