Poehling Capital Management INC. Decreases Stake in Occidental Petroleum Corporation $OXY

Poehling Capital Management INC. reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,262 shares of the oil and gas producer’s stock after selling 11,204 shares during the period. Poehling Capital Management INC.’s holdings in Occidental Petroleum were worth $4,082,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Woodline Partners LP boosted its position in Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after buying an additional 16,506 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $4,584,000. Federated Hermes Inc. raised its stake in shares of Occidental Petroleum by 696.7% in the 2nd quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Occidental Petroleum by 7.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after purchasing an additional 7,285 shares in the last quarter. Finally, AXA S.A. raised its stake in shares of Occidental Petroleum by 24.3% in the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after purchasing an additional 26,741 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their target price on shares of Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Raymond James Financial upped their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. BMO Capital Markets upped their target price on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Finally, Argus upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $62.43.

Occidental Petroleum News Roundup

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Analysts and market commentary say Occidental is showing strong momentum characteristics, which can draw in short-term buyers looking for stocks with improving trend strength. What Makes Occidental Petroleum (OXY) a Strong Momentum Stock: Buy Now?
• Positive Sentiment: Earnings estimate revisions have been rising, a sign that Wall Street expectations are improving and that OXY could have further upside if earnings continue to outperform. Earnings Estimates Rising for Occidental (OXY): Will It Gain?
• Positive Sentiment: Technical traders are also encouraged by OXY crossing above both its 20-day and 50-day moving averages, which is often viewed as a short-term bullish breakout and a sign that buying interest is strengthening. Occidental Petroleum (OXY) Crossed Above the 20-Day Moving Average: What That Means for Investors
• Positive Sentiment: The stock is also being highlighted as one of the better-performing oil names this year, with year-to-date gains suggesting momentum investors may continue to favor it over some peers. Occidental Petroleum Stock Is Up 45% This Year. Is It Outperforming Other Oil Stocks Like ConocoPhillips and Diamondback Energy?
• Neutral Sentiment: Additional coverage notes Occidental’s valuation screen looks attractive on an EV-to-EBITDA basis, but this is more of a stock-selection note than a direct catalyst. Earnings Estimates Rising for Occidental (OXY): Will It Gain?

Occidental Petroleum Price Performance

OXY opened at $60.69 on Wednesday. The firm has a market cap of $60.37 billion, a price-to-earnings ratio of 15.29 and a beta of 0.17. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company’s 50-day moving average price is $58.68 and its 200 day moving average price is $49.06. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 5.14 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.7%. Occidental Petroleum’s dividend payout ratio is 26.20%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.