Wedbush Securities Inc. Sells 3,445 Shares of Occidental Petroleum Corporation $OXY

Wedbush Securities Inc. lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 19.5% during the second quarter, Holdings Channel.com reports. The firm owned 14,200 shares of the oil and gas producer’s stock after selling 3,445 shares during the quarter. Wedbush Securities Inc.’s holdings in Occidental Petroleum were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OXY. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Occidental Petroleum in the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Occidental Petroleum in the first quarter worth $39,000. Hantz Financial Services Inc. grew its stake in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 788 shares during the last quarter. MeadowBrook Investment Advisors LLC increased its holdings in shares of Occidental Petroleum by 371.7% during the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 788 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC increased its position 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 acquiring an additional 1,000 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OXY shares. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Melius Research initiated coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. Scotiabank increased their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Evercore ISI decreased their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research report on Friday, October 3rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.29.

Occidental Petroleum Stock Up 0.1%

OXY stock opened at $41.85 on Wednesday. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 24.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The business’s 50-day moving average is $43.98 and its two-hundred day moving average is $43.70. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period in the previous year, the company posted $1.00 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

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.