D.A. Davidson & CO. Sells 11,531 Shares of Occidental Petroleum Corporation $OXY

D.A. Davidson & CO. decreased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 33.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,152 shares of the oil and gas producer’s stock after selling 11,531 shares during the quarter. D.A. Davidson & CO.’s holdings in Occidental Petroleum were worth $973,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum during the first quarter valued at approximately $39,000. Spectrum Wealth Counsel LLC grew its stake in shares of Occidental Petroleum by 5,000.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Occidental Petroleum during the first quarter valued at approximately $54,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Occidental Petroleum during the second quarter valued at approximately $55,000. Finally, Quarry LP grew its stake in shares of Occidental Petroleum by 69.7% during the first quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after buying an additional 688 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.6%

Shares of NYSE OXY opened at $42.31 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $41.65 billion, a PE ratio of 25.03 and a beta of 0.95. The stock’s fifty day simple moving average is $45.17 and its two-hundred day simple moving average is $43.52. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion for 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 business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 56.80%.

Analysts Set New Price Targets

OXY has been the topic of several research analyst reports. Mizuho raised Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a research note on Friday, October 3rd. Roth Capital increased their price objective on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Bank of America increased their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wells Fargo & Company initiated coverage on Occidental Petroleum in a research note on Friday, October 17th. They issued an “underweight” rating and a $42.00 price objective on the stock. Finally, Scotiabank increased their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $52.26.

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.