Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) by 92.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,691 shares of the oil and gas producer’s stock after selling 215,208 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Occidental Petroleum were worth $1,085,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Muhlenkamp & Co. Inc. boosted its stake in shares of Occidental Petroleum by 1.0% during the 1st quarter. Muhlenkamp & Co. Inc. now owns 237,383 shares of the oil and gas producer’s stock worth $15,428,000 after acquiring an additional 2,264 shares in the last quarter. Wealth Advisory Solutions LLC boosted its stake in shares of Occidental Petroleum by 18.1% during the 1st quarter. Wealth Advisory Solutions LLC now owns 168,744 shares of the oil and gas producer’s stock worth $10,967,000 after acquiring an additional 25,869 shares in the last quarter. Rational Advisors LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $54,000. Intrinsic Value Partners LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $1,240,000. Finally, PFG Investments LLC lifted its holdings in shares of Occidental Petroleum by 140.1% in the first quarter. PFG Investments LLC now owns 17,582 shares of the oil and gas producer’s stock valued at $1,143,000 after purchasing an additional 10,259 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Mizuho increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Stephens reissued an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, HSBC began coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.00.

View Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Stock Performance

OXY stock traded down $0.22 during trading on Tuesday, reaching $63.35. 3,997,976 shares of the stock were exchanged, compared to its average volume of 8,209,563. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a market capitalization of $56.17 billion, a P/E ratio of 17.37 and a beta of 1.64. The stock has a 50 day simple moving average of $65.44 and a 200-day simple moving average of $61.40. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXYGet Free Report) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

About Occidental Petroleum

(Free Report)

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.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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