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

Royal Fund Management LLC reduced its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 68.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Everhart Financial Group Inc. grew its stake in Occidental Petroleum by 2.3% during the 3rd quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer's stock valued at $484,000 after acquiring an additional 169 shares in the last quarter. PFG Investments LLC grew its position in Occidental Petroleum by 2.7% during the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer's stock valued at $417,000 after purchasing an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC increased its stake in Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer's stock valued at $957,000 after buying an additional 174 shares during the period. Conning Inc. boosted its stake in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer's stock valued at $334,000 after buying an additional 180 shares during the period. Finally, Donoghue Forlines LLC grew its holdings in shares of Occidental Petroleum by 2.2% during the 3rd quarter. Donoghue Forlines LLC now owns 8,971 shares of the oil and gas producer's stock valued at $582,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

OXY traded down $0.27 during midday trading on Friday, reaching $64.39. The company's stock had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The stock has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. The company has a fifty day simple moving average of $64.80 and a 200 day simple moving average of $61.42. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results 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 business had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. Occidental Petroleum's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. Research analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.51%.

Analyst Ratings Changes

Several brokerages recently issued reports on OXY. Truist Financial increased their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Stephens reissued an "overweight" rating and issued a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Barclays initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $73.00 price objective on the stock. Mizuho boosted their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, April 11th. Finally, Raymond James cut their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $71.94.

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.