Wedmont Private Capital Sells 1,696 Shares of Occidental Petroleum Co. (NYSE:OXY)

Wedmont Private Capital reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 11.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,524 shares of the oil and gas producer’s stock after selling 1,696 shares during the period. Wedmont Private Capital’s holdings in Occidental Petroleum were worth $700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. Secured Retirement Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $825,000. Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $38,000. Beacon Financial Group increased its position in shares of Occidental Petroleum by 10.7% during the fourth quarter. Beacon Financial Group now owns 12,065 shares of the oil and gas producer’s stock valued at $720,000 after buying an additional 1,169 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $160,000. Finally, Syon Capital LLC increased its position in shares of Occidental Petroleum by 77.6% during the fourth quarter. Syon Capital LLC now owns 26,574 shares of the oil and gas producer’s stock valued at $1,587,000 after buying an additional 11,613 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $54.76 on Friday. The stock has a fifty day moving average of $54.58 and a 200 day moving average of $60.30. Occidental Petroleum Co. has a 52 week low of $49.75 and a 52 week high of $71.18. The firm has a market capitalization of $48.55 billion, a price-to-earnings ratio of 14.96 and a beta of 1.57. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, research analysts expect that Occidental Petroleum Co. will post 3.49 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.61%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Barclays decreased their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Mizuho decreased their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.29.

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, 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.