Occidental Petroleum Co. (NYSE:OXY) Stock Position Decreased by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.3% during the fourth quarter, Holdings Channel reports. The firm owned 58,307 shares of the oil and gas producer’s stock after selling 6,720 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Occidental Petroleum were worth $2,881,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Certified Advisory Corp purchased a new position in Occidental Petroleum during the 4th quarter worth approximately $476,000. Benchmark Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $642,000. Fisher Asset Management LLC grew its holdings in shares of Occidental Petroleum by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after buying an additional 6,461 shares in the last quarter. Sarasin & Partners LLP raised its position in Occidental Petroleum by 5.4% during the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock valued at $48,942,000 after buying an additional 50,983 shares during the period. Finally, Rule One Partners LLC lifted its stake in Occidental Petroleum by 18.1% in the 4th quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer’s stock worth $16,083,000 after acquiring an additional 50,000 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.2%

OXY opened at $44.40 on Wednesday. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The business has a 50 day moving average price of $42.90 and a 200 day moving average price of $47.12. The firm has a market cap of $43.70 billion, a P/E ratio of 18.20 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. During the same period in the previous year, the company earned $0.63 earnings per share. Occidental Petroleum’s revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $81.00 to $64.00 in a research report on Monday, March 10th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Susquehanna dropped their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.48.

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.