Occidental Petroleum Co. (NYSE:OXY) Position Lowered by OLD National Bancorp IN

OLD National Bancorp IN decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,134 shares of the oil and gas producer’s stock after selling 280 shares during the period. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $253,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Benchmark Investment Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $642,000. Fisher Asset Management LLC raised its stake in 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 worth $30,320,000 after acquiring an additional 6,461 shares during the period. Mountain Lake Investment Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $618,000. Milestones Administradora de Recursos Ltda. raised its stake in Occidental Petroleum by 10.6% during the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock worth $9,577,000 after acquiring an additional 18,500 shares during the period. Finally, Sage Investment Counsel LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $499,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OXY shares. Wells Fargo & Company dropped their price target on shares of 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. Barclays raised their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Stephens dropped their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. 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, Citigroup raised their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.14.

Occidental Petroleum Stock Up 1.5%

Shares of OXY stock opened at $43.89 on Wednesday. The firm has a fifty day moving average of $40.64 and a 200-day moving average of $45.93. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $64.76. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 17.99 and a beta of 0.87.

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 (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 company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s payout ratio is 39.02%.

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.