Occidental Petroleum Corporation $OXY Shares Bought by RFG Holdings Inc.

Key Points

• RFG Holdings Inc. increased its shares in Occidental Petroleum Corporation by 85.8% during the second quarter, now owning a total of 44,782 shares valued at approximately $1.88 million.
• Occidental Petroleum's latest quarterly earnings report shows $0.39 earnings per share, slightly beating analysts' estimates, despite a 6.1% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.24 per share, with a dividend yield of 2.0%, payable on October 15th to stockholders of record as of September 10th.

RFG Holdings Inc. grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 85.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,782 shares of the oil and gas producer's stock after purchasing an additional 20,675 shares during the period. Occidental Petroleum makes up about 0.5% of RFG Holdings Inc.'s holdings, making the stock its 25th largest holding. RFG Holdings Inc.'s holdings in Occidental Petroleum were worth $1,881,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Northeast Financial Consultants Inc raised its stake in shares of Occidental Petroleum by 0.4% in the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock valued at $2,890,000 after acquiring an additional 242 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after acquiring an additional 274 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in shares of Occidental Petroleum by 4.2% in the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer's stock valued at $371,000 after acquiring an additional 304 shares in the last quarter. World Investment Advisors raised its stake in shares of Occidental Petroleum by 6.6% in the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock valued at $242,000 after acquiring an additional 306 shares in the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in shares of Occidental Petroleum by 1.0% in the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock valued at $1,616,000 after acquiring an additional 309 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY opened at $47.20 on Thursday. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The stock's 50 day moving average is $45.05 and its two-hundred day moving average is $43.81. The firm has a market capitalization of $46.47 billion, a PE ratio of 27.93 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced 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 company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 56.80%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Melius assumed coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target on the stock. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Scotiabank raised their price target on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Wells Fargo & Company cut their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Finally, UBS Group raised their price target on Occidental Petroleum from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.70.

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.

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