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

Lodestone Wealth Management LLC lessened its stake in Occidental Petroleum Corporation (NYSE:OXY) by 16.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,425 shares of the oil and gas producer’s stock after selling 8,185 shares during the period. Lodestone Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,094,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc raised its holdings in shares of Occidental Petroleum by 3.5% during the fourth 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 during the period. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 18.1% during 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 during the period. Geode Capital Management LLC boosted its position in Occidental Petroleum by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer’s stock valued at $701,816,000 after purchasing an additional 398,467 shares during the period. Northern Trust Corp lifted its stake in Occidental Petroleum by 7.5% in the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock valued at $349,085,000 after buying an additional 491,797 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after acquiring an additional 1,278,389 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. 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. Barclays lifted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. UBS Group decreased their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Mizuho cut their price objective on shares of 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, Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.38.

Occidental Petroleum Price Performance

Shares of OXY opened at $43.91 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The company has a market capitalization of $43.21 billion, a price-to-earnings ratio of 17.85 and a beta of 0.84. The business’s 50-day moving average is $42.40 and its 200-day moving average is $45.40. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.19%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.02%.

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.