Private Wealth Partners LLC Decreases Stock Holdings in Occidental Petroleum Corporation $OXY

Private Wealth Partners LLC reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 42.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 31,890 shares of the oil and gas producer’s stock after selling 23,310 shares during the period. Private Wealth Partners LLC’s holdings in Occidental Petroleum were worth $1,340,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OXY. Vanguard Group Inc. raised its stake in Occidental Petroleum by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after acquiring an additional 12,107,285 shares in the last quarter. H&H International Investment LLC raised its stake in Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock worth $682,456,000 after acquiring an additional 249,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after acquiring an additional 710,220 shares in the last quarter. Northern Trust Corp raised its stake in Occidental Petroleum by 1.6% during the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after acquiring an additional 110,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Occidental Petroleum by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after acquiring an additional 195,742 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the topic of several research analyst reports. Melius Research initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. HSBC upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. Morgan Stanley restated an “equal weight” rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research note on Monday, August 18th. Finally, Scotiabank lifted their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.26.

Occidental Petroleum Stock Down 0.6%

Shares of NYSE:OXY opened at $42.31 on Tuesday. The company has a market cap of $41.65 billion, a price-to-earnings ratio of 25.03 and a beta of 0.95. The firm’s 50-day simple moving average is $45.17 and its 200-day simple moving average is $43.52. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum’s payout ratio is presently 56.80%.

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.