Commerce Bank Decreases Position in Occidental Petroleum Co. (OXY)

Commerce Bank lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,955 shares of the oil and gas producer’s stock after selling 7,781 shares during the quarter. Commerce Bank’s holdings in Occidental Petroleum were worth $3,704,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Shelton Capital Management lifted its holdings in shares of Occidental Petroleum by 1.8% during the fourth quarter. Shelton Capital Management now owns 8,646 shares of the oil and gas producer’s stock valued at $531,000 after purchasing an additional 152 shares during the last quarter. Taylor Hoffman Wealth Management lifted its holdings in shares of Occidental Petroleum by 2.3% during the fourth quarter. Taylor Hoffman Wealth Management now owns 6,647 shares of the oil and gas producer’s stock valued at $412,000 after purchasing an additional 152 shares during the last quarter. Nachman Norwood & Parrott Inc lifted its holdings in shares of Occidental Petroleum by 0.6% during the first quarter. Nachman Norwood & Parrott Inc now owns 25,427 shares of the oil and gas producer’s stock valued at $1,683,000 after purchasing an additional 160 shares during the last quarter. Essex Savings Bank lifted its holdings in shares of Occidental Petroleum by 16.8% during the first quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock valued at $80,000 after purchasing an additional 175 shares during the last quarter. Finally, OLD Second National Bank of Aurora lifted its holdings in shares of Occidental Petroleum by 0.3% during the first quarter. OLD Second National Bank of Aurora now owns 54,908 shares of the oil and gas producer’s stock valued at $3,635,000 after purchasing an additional 178 shares during the last quarter. 80.53% of the stock is owned by institutional investors and hedge funds.

Shares of Occidental Petroleum stock opened at $52.91 on Friday. Occidental Petroleum Co. has a 1 year low of $52.47 and a 1 year high of $87.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.03. The stock has a market capitalization of $40.02 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.12. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business earned $0.92 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Co. will post 3.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.

Several equities research analysts have recently commented on the company. ValuEngine downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Zacks Investment Research downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wells Fargo & Co downgraded Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday. Wolfe Research downgraded Occidental Petroleum from an “outperform” rating to a “peer perform” rating and reduced their price objective for the stock from $85.00 to $65.00 in a research note on Monday, May 13th. Finally, Raymond James set a $80.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $75.30.

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Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The 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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