7,358 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY — Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,358 shares of the oil and gas producer’s stock, valued at approximately $364,000.

Several other hedge funds have also modified their holdings of the company. White Knight Strategic Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at $303,000. USS Investment Management Ltd bought a new stake in Occidental Petroleum during the fourth quarter valued at about $2,194,000. Worldquant Millennium Advisors LLC boosted its position in Occidental Petroleum by 1,075.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock valued at $95,400,000 after purchasing an additional 1,766,491 shares in the last quarter. Woodline Partners LP purchased a new stake in Occidental Petroleum in the fourth quarter valued at about $2,005,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Occidental Petroleum in the fourth quarter worth about $1,205,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

NYSE:OXY opened at $41.87 on Wednesday. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $41.21 billion, a P/E ratio of 17.16 and a beta of 0.81. The stock’s fifty day moving average is $42.54 and its two-hundred day moving average is $46.87.

Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.29%. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OXY. Mizuho reduced their price objective on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Barclays raised their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Piper Sandler dropped their target price on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.14.

View Our Latest Report on Occidental Petroleum

Occidental Petroleum Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY — Free Report).

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