Trust Co. of Vermont Sells 832 Shares of Occidental Petroleum Corporation $OXY

Trust Co. of Vermont lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,019 shares of the oil and gas producer’s stock after selling 832 shares during the period. Trust Co. of Vermont’s holdings in Occidental Petroleum were worth $295,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Occidental Petroleum in the 1st quarter valued at $1,274,000. Kestra Private Wealth Services LLC raised its stake in Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after acquiring an additional 140,528 shares during the period. swisspartners Advisors Ltd acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at $6,006,000. Finally, Blackhawk Capital Partners LLC. bought a new stake in shares of Occidental Petroleum in the 1st quarter worth about $344,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OXY shares. UBS Group lifted their price target on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Melius began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price for the company. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Finally, Melius Research assumed coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.95.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $44.32 on Friday. The business’s 50-day simple moving average is $45.62 and its 200 day simple moving average is $43.84. 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 stock has a market cap of $43.63 billion, a price-to-earnings ratio of 26.22 and a beta of 0.95. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49.

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

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum 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.