Royal Fund Management LLC Lowers Holdings in Occidental Petroleum Co. (NYSE:OXY)

Royal Fund Management LLC lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 59.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,409 shares of the oil and gas producer’s stock after selling 34,007 shares during the quarter. Royal Fund Management LLC’s holdings in Occidental Petroleum were worth $1,157,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after buying an additional 444,850 shares during the period. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after acquiring an additional 98,703 shares during the last quarter. Swiss National Bank boosted its position in shares of Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after purchasing an additional 5,200 shares during the period. Finally, National Pension Service increased its holdings in Occidental Petroleum by 9.4% in the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after purchasing an additional 133,546 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OXY shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Stock Down 2.7 %

OXY stock opened at $50.57 on Wednesday. The stock has a market cap of $47.46 billion, a P/E ratio of 13.17 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company’s 50 day moving average is $49.72 and its two-hundred day moving average is $53.32.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum 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.