Stratos Wealth Partners LTD. Decreases Position in Occidental Petroleum Corporation $OXY

Stratos Wealth Partners LTD. trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 30.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,335 shares of the oil and gas producer’s stock after selling 2,346 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Occidental Petroleum were worth $224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northeast Financial Consultants Inc lifted its position in Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock worth $2,890,000 after buying an additional 242 shares during the period. Inspire Investing LLC lifted its position in Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock worth $282,000 after buying an additional 247 shares during the period. S.A. Mason LLC lifted its position in Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock worth $223,000 after buying an additional 295 shares during the period. Moody National Bank Trust Division lifted its position in Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock worth $644,000 after buying an additional 300 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in Occidental Petroleum by 3.7% during the second quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock worth $354,000 after buying an additional 300 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $42.60 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The business has a 50 day moving average price of $45.21 and a two-hundred day moving average price of $43.49. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The firm has a market cap of $41.94 billion, a PE ratio of 25.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the firm earned $1.03 EPS. Occidental Petroleum’s quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were paid 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 was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OXY shares. UBS Group dropped their price target on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Roth Capital upped their price target on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Scotiabank upped their price target 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. Wells Fargo & Company began coverage on Occidental Petroleum in a research note on Friday, October 17th. They issued an “underweight” rating and a $42.00 target price for the company. Finally, Susquehanna lowered their target price on Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus 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.