Royal Fund Management LLC Has $786,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Royal Fund Management LLC cut its position in Occidental Petroleum Co. (NYSE:OXY) by 68.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,156 shares of the oil and gas producer’s stock after selling 28,524 shares during the period. Royal Fund Management LLC’s holdings in Occidental Petroleum were worth $786,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum in the third quarter worth $27,000. TLW Wealth Management LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $28,000. Grove Bank & Trust lifted its position in shares of Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $34,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OXY shares. Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Stephens reissued an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, HSBC initiated coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Performance

Shares of OXY stock traded down $0.27 on Friday, hitting $64.39. The company’s stock had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The stock’s 50 day moving average is $64.80 and its 200-day moving average is $61.42. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a market capitalization of $57.08 billion, a PE ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. Equities research analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business 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 $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. Occidental Petroleum’s payout ratio is currently 22.51%.

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.