Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 811,013 shares of the oil and gas producer’s stock after selling 7,088 shares during the period. Occidental Petroleum makes up about 1.0% of Perigon Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Perigon Wealth Management LLC owned approximately 0.09% of Occidental Petroleum worth $40,032,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares in the last quarter. Berkshire Hathaway Inc increased its stake in Occidental Petroleum by 3.5% in the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Worldquant Millennium Advisors LLC increased its stake in Occidental Petroleum by 1,075.3% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock worth $95,400,000 after purchasing an additional 1,766,491 shares in the last quarter. Marshall Wace LLP increased its stake in Occidental Petroleum by 48.1% in the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock worth $203,459,000 after purchasing an additional 1,337,728 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after purchasing an additional 1,278,389 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.0%

Shares of NYSE OXY opened at $42.47 on Thursday. The stock has a market cap of $41.80 billion, a price-to-earnings ratio of 17.26 and a beta of 0.87. The business has a 50 day simple moving average of $42.08 and a 200 day simple moving average of $45.58. Occidental Petroleum Corporation has a 52 week low of $34.79 and a 52 week high of $64.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.26%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.02%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. UBS Group dropped their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Mizuho lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen cut Occidental Petroleum from a “buy” rating to a “hold” rating and lowered their target price for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $53.14.

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.