Royal Fund Management LLC Acquires 31,809 Shares of Occidental Petroleum Co. (NYSE:OXY)

Royal Fund Management LLC raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 124.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,416 shares of the oil and gas producer’s stock after purchasing an additional 31,809 shares during the period. Royal Fund Management LLC’s holdings in Occidental Petroleum were worth $2,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CapWealth Advisors LLC raised its holdings in shares of Occidental Petroleum by 2.7% during the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock valued at $397,000 after acquiring an additional 162 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Occidental Petroleum by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after purchasing an additional 164 shares during the period. Investment Research & Advisory Group Inc. boosted its stake in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Earnest Partners LLC increased its position in shares of Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after buying an additional 173 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.7 %

Shares of OXY stock traded down $0.40 during mid-day trading on Wednesday, hitting $53.92. The company’s stock had a trading volume of 1,341,640 shares, compared to its average volume of 9,091,849. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a 52-week low of $49.75 and a 52-week high of $71.18. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 14.84 and a beta of 1.57. The business has a 50-day moving average price of $54.87 and a 200 day moving average price of $60.45.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post 3.49 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.63%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OXY. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. UBS Group reduced their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Truist Financial lowered their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Scotiabank reduced their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.18.

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.