Vermillion Wealth Management Inc. Lowers Stake in Occidental Petroleum Corporation $OXY

Vermillion Wealth Management Inc. lessened its position in Occidental Petroleum Corporation (NYSE:OXY) by 97.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471 shares of the oil and gas producer’s stock after selling 17,605 shares during the period. Vermillion Wealth Management Inc.’s holdings in Occidental Petroleum were worth $31,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitlin John LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at $29,000. Activest Wealth Management boosted its holdings in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the last quarter. Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the third quarter valued at $35,000. Rossby Financial LCC increased its stake in Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Finally, McMillan Office Inc. purchased a new position in Occidental Petroleum during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.7%

Shares of OXY stock opened at $52.34 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm’s 50 day moving average price is $56.70 and its two-hundred day moving average price is $51.67. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 13.18 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, analysts anticipate that Occidental Petroleum Corporation will post 5.79 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.

Wall Street Analysts Forecast Growth

Several analysts have commented on OXY shares. The Goldman Sachs Group upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price target for the company in a report on Thursday, May 21st. Raymond James Financial boosted their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Scotiabank upped their price target on shares of Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Wolfe Research increased their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.74.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.