DekaBank Deutsche Girozentrale Sells 716 Shares of Occidental Petroleum Corporation $OXY

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,128 shares of the oil and gas producer’s stock after selling 716 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Occidental Petroleum were worth $4,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Northeast Financial Consultants Inc raised its stake in shares of Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock worth $2,890,000 after buying an additional 242 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock worth $282,000 after buying an additional 247 shares during the last quarter. S.A. Mason LLC raised its stake in shares of 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 worth $223,000 after buying an additional 295 shares during the last quarter. Moody National Bank Trust Division raised its stake in shares of Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock worth $644,000 after buying an additional 300 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in Occidental Petroleum by 3.7% in the second quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock valued at $354,000 after purchasing an additional 300 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OXY has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Susquehanna lowered their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Wells Fargo & Company initiated coverage on shares of Occidental Petroleum in a research note on Friday, October 17th. They issued an “underweight” rating and a $42.00 target price for the company. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Piper Sandler lowered their target price on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $52.26.

Occidental Petroleum Stock Down 0.6%

Occidental Petroleum stock opened at $42.60 on Friday. The stock has a market capitalization of $41.94 billion, a PE ratio of 25.21 and a beta of 0.95. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $45.21 and a 200-day moving average of $43.44.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion during 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 firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

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.