Wolverine Asset Management LLC Cuts Position in Occidental Petroleum Corporation $OXY

Wolverine Asset Management LLC trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 81.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Moody National Bank Trust Division lifted its position in Occidental Petroleum by 1.5% during the third quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock valued at $735,000 after purchasing an additional 229 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Occidental Petroleum by 3.8% in the 2nd quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock valued at $282,000 after acquiring an additional 247 shares during the last quarter. Cigna Investments Inc. New grew its position in Occidental Petroleum by 4.3% in the third quarter. Cigna Investments Inc. New now owns 6,809 shares of the oil and gas producer’s stock worth $321,000 after acquiring an additional 280 shares in the last quarter. S.A. Mason LLC raised its position in Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock valued at $223,000 after purchasing an additional 295 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of Occidental Petroleum by 2.7% in the 3rd quarter. Greenleaf Trust now owns 11,330 shares of the oil and gas producer’s stock valued at $535,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price on shares of Occidental Petroleum in a research report on Tuesday, November 25th. Roth Capital increased their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Bank of America dropped their price target on shares of Occidental Petroleum from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, December 11th. Morgan Stanley reduced their price objective on shares of Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 20th. Finally, Evercore ISI dropped their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $49.43.

Occidental Petroleum Trading Down 1.0%

Shares of NYSE OXY opened at $42.74 on Monday. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $52.58. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $41.55 and a two-hundred day simple moving average of $43.38. The firm has a market cap of $42.11 billion, a PE ratio of 31.43 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data 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 the consensus estimate of $6.66 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 70.59%.

Insiders Place Their Bets

In related news, Director William R. Klesse bought 5,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the transaction, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.