Wedmont Private Capital Has $741,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Wedmont Private Capital boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 18.8% in the first quarter, Holdings Channel reports. The firm owned 15,022 shares of the oil and gas producer’s stock after purchasing an additional 2,377 shares during the period. Wedmont Private Capital’s holdings in Occidental Petroleum were worth $741,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $32,000. Finally, American National Bank & Trust acquired a new position in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE OXY opened at $43.23 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $40.64 and its two-hundred day moving average price is $45.94. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The firm has a market capitalization of $42.55 billion, a P/E ratio of 17.72 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.02%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Scotiabank cut shares of Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price target for the company. in a report on Friday, April 11th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. TD Cowen cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Finally, Stephens reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Three 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. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $53.14.

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.